Harvest Fund Management Co. Ltd Grows Stake in Regions Financial Co. (NYSE:RF)

Harvest Fund Management Co. Ltd increased its position in shares of Regions Financial Co. (NYSE:RF) by 415.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,767 shares of the bank’s stock after buying an additional 12,710 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Regions Financial were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RF. Natixis Advisors LLC grew its stake in Regions Financial by 9.0% during the 3rd quarter. Natixis Advisors LLC now owns 146,031 shares of the bank’s stock worth $3,407,000 after buying an additional 12,033 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Regions Financial by 9.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 79,453 shares of the bank’s stock worth $1,855,000 after buying an additional 6,665 shares during the last quarter. Pathstone Holdings LLC grew its stake in Regions Financial by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 268,376 shares of the bank’s stock worth $6,263,000 after buying an additional 3,222 shares during the last quarter. Caprock Group LLC grew its stake in Regions Financial by 4.5% during the 3rd quarter. Caprock Group LLC now owns 19,093 shares of the bank’s stock worth $450,000 after buying an additional 827 shares during the last quarter. Finally, Commerce Bank grew its stake in Regions Financial by 392.5% during the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after buying an additional 197,900 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler raised their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Compass Point increased their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.44.

Regions Financial Stock Performance

Shares of RF stock opened at $21.68 on Friday. The stock has a fifty day moving average price of $23.46 and a 200 day moving average price of $23.94. The stock has a market cap of $19.63 billion, a PE ratio of 11.17, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. 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 (NYSE:RF) last issued its quarterly earnings data 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 firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. Regions Financial’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Sell-side analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 3,993 shares of company stock valued at $89,682. Corporate insiders own 0.29% of the company’s stock.

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.