Aster Capital Management DIFC Ltd Takes $1.57 Million Position in Regions Financial Co. (NYSE:RF)

Aster Capital Management DIFC Ltd purchased a new position in shares of Regions Financial Co. (NYSE:RF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 66,759 shares of the bank’s stock, valued at approximately $1,570,000. Regions Financial comprises approximately 0.6% of Aster Capital Management DIFC Ltd’s holdings, making the stock its 21st biggest position.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after buying an additional 1,396,647 shares during the period. Geode Capital Management LLC raised its position in Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after buying an additional 403,283 shares during the last quarter. Norges Bank acquired a new stake in shares of Regions Financial in the 4th quarter worth $279,103,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Regions Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after acquiring an additional 112,885 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 4.9 %

RF opened at $18.64 on Friday. The firm has a market cap of $16.88 billion, a P/E ratio of 9.61, a PEG ratio of 1.93 and a beta of 1.01. The business’s fifty day simple moving average is $22.88 and its 200 day simple moving average is $23.88. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. 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 (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. As a group, equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 5.36%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders acquired 3,868 shares of company stock worth $86,722. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RF. Truist Financial cut their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price target on Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Finally, Morgan Stanley restated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and an average target price of $26.95.

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.