Pictet Asset Management Holding SA Has $13.67 Million Position in Regions Financial Co. (NYSE:RF)

Pictet Asset Management Holding SA lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 581,076 shares of the bank’s stock after selling 8,074 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Regions Financial worth $13,667,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Y.D. More Investments Ltd grew its holdings in Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Regions Financial in the fourth quarter valued at about $28,000. Picton Mahoney Asset Management grew its stake in shares of Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $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 4th quarter worth about $32,000. Finally, Legacy Investment Solutions LLC bought a new stake in Regions Financial in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $21.55 on Wednesday. The stock has a 50-day moving average price of $23.13 and a two-hundred day moving average price of $23.94. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a market capitalization of $19.52 billion, a PE ratio of 11.11, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $0.39 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.64%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Insider Buying and Selling

In related news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 3,868 shares of company stock valued at $86,722 over the last 90 days. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of analyst reports. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Truist Financial cut their target price on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Citigroup cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company decreased their target price on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.17.

Regions Financial Company 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.