Picton Mahoney Asset Management Buys 38,844 Shares of Regions Financial Corporation $RF

Picton Mahoney Asset Management boosted its position in shares of Regions Financial Corporation (NYSE:RF) by 76,164.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,895 shares of the bank’s stock after buying an additional 38,844 shares during the quarter. Picton Mahoney Asset Management’s holdings in Regions Financial were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC raised its position in Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after purchasing an additional 1,278 shares during the period. Woodline Partners LP grew its stake in shares of Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after buying an additional 22,216 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Regions Financial by 35.2% in the second quarter. Assetmark Inc. now owns 30,246 shares of the bank’s stock worth $711,000 after buying an additional 7,870 shares during the period. Atria Investments Inc lifted its stake in shares of Regions Financial by 13.5% during the 2nd quarter. Atria Investments Inc now owns 24,391 shares of the bank’s stock worth $574,000 after acquiring an additional 2,894 shares during the last quarter. Finally, Csenge Advisory Group lifted its stake in shares of Regions Financial by 3.8% during the 2nd quarter. Csenge Advisory Group now owns 83,331 shares of the bank’s stock worth $1,787,000 after acquiring an additional 3,060 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Evercore downgraded Regions Financial from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $27.00 to $29.00 in a research report on Tuesday, January 6th. Barclays upped their price target on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Truist Financial lifted their price objective on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, Piper Sandler lifted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.97.

Regions Financial Price Performance

NYSE RF opened at $27.73 on Friday. The company has a market cap of $23.95 billion, a PE ratio of 12.11, a P/E/G ratio of 0.98 and a beta of 1.02. The firm’s 50 day moving average price is $28.70 and its 200-day moving average price is $26.87. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $31.53.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.265 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. Regions Financial’s payout ratio is currently 46.29%.

Regions Financial declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.