Cubist Systematic Strategies LLC Makes New Investment in Regions Financial Co. (NYSE:RF)

Cubist Systematic Strategies LLC purchased a new position in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 278,749 shares of the bank’s stock, valued at approximately $6,556,000.

A number of other hedge funds also recently made changes to their positions in RF. LBP AM SA raised its position in Regions Financial by 149.4% during the fourth quarter. LBP AM SA now owns 730,614 shares of the bank’s stock valued at $17,184,000 after purchasing an additional 437,691 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Regions Financial during the 4th quarter valued at about $1,965,000. Aprio Wealth Management LLC purchased a new position in shares of Regions Financial during the 4th quarter valued at about $1,247,000. Nordea Investment Management AB lifted its position in Regions Financial by 60.4% in the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after buying an additional 99,115 shares during the last quarter. Finally, Vest Financial LLC boosted its stake in Regions Financial by 20.4% in the fourth quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock worth $34,806,000 after buying an additional 250,729 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Performance

Shares of RF opened at $21.28 on Friday. The company has a 50-day simple moving average of $20.65 and a two-hundred day simple moving average of $23.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market capitalization of $19.27 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $1.81 billion during 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 last year, the business posted $0.37 EPS. On average, analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Monday, June 2nd. Regions Financial’s dividend payout ratio is presently 48.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stephens lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Barclays lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Citigroup decreased their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Truist Financial dropped their target price on Regions Financial from $24.00 to $21.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their price target on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.53.

Insider Buying and Selling

In related news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares of the company’s stock, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Regions Financial Profile

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.