Regions Financial Corporation $RF Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. increased its stake in Regions Financial Corporation (NYSE:RF) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,001 shares of the bank’s stock after acquiring an additional 23,533 shares during the period. Benjamin Edwards Inc.’s holdings in Regions Financial were worth $10,706,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Regions Financial during the 2nd quarter worth about $246,790,000. Arrowstreet Capital Limited Partnership grew its position in shares of Regions Financial by 620.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after acquiring an additional 2,207,585 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in Regions Financial during the 2nd quarter worth $24,927,000. Midwest Trust Co acquired a new stake in shares of Regions Financial during the second quarter worth about $14,519,000. Finally, Schroder Investment Management Group grew its holdings in shares of Regions Financial by 56.8% during the second quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock worth $36,648,000 after buying an additional 564,281 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a report on Tuesday. Stephens reiterated an “equal weight” rating and set a $27.00 price target (down from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Barclays upped their price target on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday. Truist Financial raised their price objective on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Finally, Evercore ISI cut Regions Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $27.00 to $29.00 in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.93.

Regions Financial Trading Up 1.4%

Shares of RF opened at $28.86 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $29.26. The stock has a market cap of $25.30 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.03. The firm has a 50 day simple moving average of $26.24 and a 200-day simple moving average of $25.76.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The firm had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. Equities analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is currently 46.70%.

Regions Financial announced that its board has initiated a stock buyback program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Regions Financial Company Profile

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.