Mitsubishi UFJ Asset Management Co. Ltd. Buys 81,879 Shares of Regions Financial Corporation $RF

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Regions Financial Corporation (NYSE:RF) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,790,275 shares of the bank’s stock after buying an additional 81,879 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Regions Financial worth $47,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of RF. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial in the second quarter valued at approximately $25,000. United Community Bank bought a new stake in Regions Financial during the 3rd quarter valued at $30,000. Salomon & Ludwin LLC purchased a new stake in shares of Regions Financial in the 3rd quarter worth $32,000. Elevation Point Wealth Partners LLC bought a new position in shares of Regions Financial during the 2nd quarter worth $33,000. Finally, Clearstead Trust LLC grew its position in shares of Regions Financial by 574.5% during the 2nd quarter. Clearstead Trust LLC now owns 1,430 shares of the bank’s stock worth $34,000 after buying an additional 1,218 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RF. Wells Fargo & Company downgraded Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a report on Friday, January 16th. Evercore downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and raised their target price 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 research 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. Finally, Morgan Stanley set a $31.00 target price on Regions Financial in a report on Monday, January 19th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.84.

Regions Financial Stock Performance

Shares of RF stock opened at $27.79 on Friday. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $31.53. The business’s fifty day simple moving average is $28.68 and its 200-day simple moving average is $26.83. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market cap of $24.00 billion, a PE ratio of 12.13, a PEG ratio of 0.98 and a beta of 1.04.

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

Regions Financial Announces Dividend

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

Regions Financial announced that its board has approved a stock buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 17,569 shares in the company, valued at $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

About Regions Financial

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.