Picton Mahoney Asset Management Grows Holdings in Regions Financial Co. (NYSE:RF)

Picton Mahoney Asset Management grew its holdings in shares of Regions Financial Co. (NYSE:RF) by 2,354.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,252 shares of the bank’s stock after buying an additional 1,201 shares during the quarter. Picton Mahoney Asset Management’s holdings in Regions Financial were worth $29,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Y.D. More Investments Ltd lifted its stake in 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 during the last quarter. Sierra Ocean LLC bought a new position in Regions Financial during the fourth quarter worth $28,000. Truvestments Capital LLC bought a new position in Regions Financial during the third quarter worth $37,000. Legacy Investment Solutions LLC bought a new position in Regions Financial during the third quarter worth $37,000. Finally, Quarry LP lifted its stake in Regions Financial by 29.5% during the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after purchasing an additional 394 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

NYSE:RF opened at $21.54 on Tuesday. The business’s 50-day moving average price is $23.62 and its 200 day moving average price is $24.00. The firm has a market cap of $19.50 billion, a P/E ratio of 11.10, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last released its 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 firm 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 was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is currently 51.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RF. The Goldman Sachs Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. 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. Truist Financial raised their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. Citigroup cut their target price on Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Buying and Selling

In related news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were purchased 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 approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 4,523 shares of company stock valued at $102,269 over the last three months. Company insiders own 0.29% of the company’s stock.

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.