Thornburg Investment Management Inc. Grows Stock Holdings in Regions Financial Corporation $RF

Thornburg Investment Management Inc. increased its stake in shares of Regions Financial Corporation (NYSE:RFFree Report) by 34.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,230,601 shares of the bank’s stock after acquiring an additional 1,605,836 shares during the period. Regions Financial makes up about 2.1% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 13th largest position. Thornburg Investment Management Inc.’s holdings in Regions Financial were worth $168,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the 2nd quarter valued at approximately $25,000. SouthState Bank Corp boosted its holdings in Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares in the last quarter. Spire Wealth Management boosted its holdings in Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Regions Financial in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RF shares. Morgan Stanley lowered their price objective on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a report on Tuesday, March 3rd. DA Davidson lifted their price objective on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.47.

Get Our Latest Stock Report on RF

Regions Financial Trading Down 0.1%

Shares of Regions Financial stock opened at $29.24 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a 1 year low of $21.40 and a 1 year high of $31.53. The company has a market capitalization of $24.95 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.14 and a beta of 1.00. The business has a 50 day moving average price of $27.79 and a 200 day moving average price of $27.67.

Regions Financial (NYSE:RFGet Free Report) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $0.54 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is presently 44.17%.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

About Regions Financial

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RFFree Report).

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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