Harvest Fund Management Co. Ltd Boosts Stock Position in Regions Financial Co. (NYSE:RF)

Harvest Fund Management Co. Ltd grew its holdings in Regions Financial Co. (NYSE:RF) by 415.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Y.D. More Investments Ltd increased its position in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Regions Financial during the fourth quarter worth approximately $28,000. Picton Mahoney Asset Management increased its position in shares of Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after purchasing an additional 1,201 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Regions Financial during the third quarter worth approximately $37,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Regions Financial during the third quarter worth approximately $37,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased 3,993 shares of company stock valued at $89,682 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler boosted their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup dropped their target price on Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Barclays upped their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and an average target price of $27.44.

Regions Financial Price Performance

RF opened at $21.68 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm has a market cap of $19.63 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19. The stock’s 50-day moving average price is $23.46 and its 200 day moving average price is $23.94. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates 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 for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. As a group, sell-side analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio is currently 51.55%.

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.