Aldebaran Financial Inc. Purchases 782 Shares of Regions Financial Co. (NYSE:RF)

Aldebaran Financial Inc. grew its position in Regions Financial Co. (NYSE:RF) by 5.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,439 shares of the bank’s stock after purchasing an additional 782 shares during the quarter. Aldebaran Financial Inc.’s holdings in Regions Financial were worth $342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Regions Financial during the fourth quarter worth $279,103,000. Invesco Ltd. grew its position in Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after acquiring an additional 1,396,647 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Regions Financial in the fourth quarter worth about $31,480,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of Regions Financial by 247.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock valued at $40,891,000 after purchasing an additional 1,237,538 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 1.2 %

RF stock opened at $19.08 on Tuesday. The stock’s 50 day simple moving average is $21.49 and its 200 day simple moving average is $23.54. The company has a market cap of $17.28 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm posted $0.37 EPS. On average, research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 5.24%. Regions Financial’s dividend payout ratio is presently 48.08%.

Insider Activity at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased 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. This trade represents a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 3,343 shares of company stock valued at $74,348. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on RF shares. Morgan Stanley dropped their price objective on shares of Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Citigroup reduced their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company dropped their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

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.