Regions Financial Co. (NYSE:RF) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in Regions Financial Co. (NYSE:RF) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,384,061 shares of the bank’s stock after purchasing an additional 757,946 shares during the quarter. Royal Bank of Canada owned about 0.81% of Regions Financial worth $173,673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd raised its holdings in shares of 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 buying an additional 634 shares during the last quarter. Sierra Ocean LLC purchased a new position in Regions Financial in the 4th quarter worth $28,000. Picton Mahoney Asset Management raised its stake in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth about $32,000. Finally, Creative Capital Management Investments LLC purchased a new stake in Regions Financial in the fourth quarter valued at approximately $44,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

Shares of NYSE RF opened at $22.60 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a fifty day moving average of $20.69 and a 200 day moving average of $23.21. The firm has a market cap of $20.31 billion, a PE ratio of 11.65, a PEG ratio of 1.93 and a beta of 0.97. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, research analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.43%. Regions Financial’s dividend payout ratio (DPR) is currently 48.08%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RF shares. Barclays reduced their price target on shares of Regions Financial from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group reduced their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Truist Financial lowered their price target on shares of Regions Financial from $24.00 to $21.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Citigroup cut their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.80.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

About Regions Financial

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.