KLP Kapitalforvaltning AS Makes New Investment in Regions Financial Co. (NYSE:RF)

KLP Kapitalforvaltning AS acquired a new stake in Regions Financial Co. (NYSE:RF) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 309,026 shares of the bank’s stock, valued at approximately $7,334,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RF. Y.D. More Investments Ltd lifted its stake in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management lifted its position in shares of Regions Financial by 2,354.9% during the 4th 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 during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Regions Financial during the fourth quarter worth $32,000. Finally, Truvestments Capital LLC purchased a new position in Regions Financial in the third quarter valued at $37,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 3,993 shares of company stock valued at $89,682 in the last three months. 0.29% of the stock is currently owned by company insiders.

Regions Financial Stock Performance

NYSE:RF opened at $22.33 on Tuesday. The firm has a market cap of $20.21 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The firm’s fifty day moving average price is $23.44 and its 200 day moving average price is $23.95.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. On average, sell-side analysts expect that Regions Financial Co. will post 2.26 EPS for the current 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 4.48%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. 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. Truist Financial lowered their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday. Piper Sandler raised their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Citigroup cut their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.28.

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.