Mitsubishi UFJ Asset Management Co. Ltd. Buys 211,222 Shares of Regions Financial Co. (NYSE:RF)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Regions Financial Co. (NYSE:RF) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,498,333 shares of the bank’s stock after buying an additional 211,222 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Regions Financial worth $35,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA increased its position in shares of Regions Financial by 26.5% during the third quarter. Private Trust Co. NA now owns 6,309 shares of the bank’s stock worth $147,000 after buying an additional 1,321 shares during the period. FMR LLC grew its holdings in Regions Financial by 8.4% during the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock worth $72,548,000 after acquiring an additional 241,838 shares during the period. CreativeOne Wealth LLC raised its position in shares of Regions Financial by 4.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 36,973 shares of the bank’s stock worth $863,000 after acquiring an additional 1,425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Regions Financial by 3.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 492,066 shares of the bank’s stock valued at $11,480,000 after purchasing an additional 15,882 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in shares of Regions Financial by 2.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 159,607 shares of the bank’s stock valued at $3,724,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 2.3 %

RF opened at $21.42 on Friday. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company’s 50-day moving average is $23.25 and its 200 day moving average is $23.93. The firm has a market capitalization of $19.39 billion, a P/E ratio of 11.04, a PEG ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. 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, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Insider Buying and Selling

In related news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have purchased 3,993 shares of company stock valued at $89,682. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RF shares. Barclays boosted their price target on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Truist Financial cut their target price 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. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Compass Point upped their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler raised their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.17.

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.