Voleon Capital Management LP Makes New $220,000 Investment in Regions Financial Co. (NYSE:RF)

Voleon Capital Management LP acquired a new stake in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 9,366 shares of the bank’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Y.D. More Investments Ltd increased its holdings in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Regions Financial during the 4th quarter valued at $28,000. Picton Mahoney Asset Management boosted its stake in Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Regions Financial in the fourth quarter worth $32,000. Finally, Creative Capital Management Investments LLC acquired a new stake in Regions Financial in the fourth quarter worth $44,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Joia M. Johnson bought 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RF. Morgan Stanley cut their price objective on shares of Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Stephens cut their price target on Regions Financial from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Citigroup decreased their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. Truist Financial cut their target price on Regions Financial from $24.00 to $21.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and an average price target of $25.53.

Regions Financial Price Performance

Regions Financial stock opened at $20.52 on Friday. The stock has a market cap of $18.58 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.93 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average price is $20.89 and its two-hundred day moving average price is $23.38. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, equities analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.87%. Regions Financial’s payout ratio is currently 48.08%.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.