Scientech Research LLC Purchases Shares of 48,272 Regions Financial Co. (NYSE:RF)

Scientech Research LLC purchased a new stake in Regions Financial Co. (NYSE:RF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,272 shares of the bank’s stock, valued at approximately $1,135,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock valued at $540,284,000 after purchasing an additional 403,283 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after acquiring an additional 1,224,645 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after acquiring an additional 1,963,954 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Regions Financial during the 4th quarter worth about $279,103,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. The trade was a 15.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $22.60 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The stock has a market capitalization of $20.31 billion, a PE ratio of 11.65, a P/E/G ratio of 1.93 and a beta of 0.97. The firm has a 50 day moving average of $20.69 and a two-hundred day moving average of $23.22.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company posted $0.37 EPS. On average, research analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.43%. Regions Financial’s payout ratio is 48.08%.

Wall Street Analysts Forecast Growth

RF has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. TD Cowen initiated coverage on shares of Regions Financial in a research note on Thursday. They set a “buy” rating and a $31.00 target price on the stock. Truist Financial lowered their target price on shares of Regions Financial from $24.00 to $21.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Barclays lowered their target price on shares of Regions Financial from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.80.

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.