Plato Investment Management Ltd Has $619,000 Stock Position in Regions Financial Corporation $RF

Plato Investment Management Ltd boosted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 40,672.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,648 shares of the bank’s stock after acquiring an additional 23,590 shares during the quarter. Plato Investment Management Ltd’s holdings in Regions Financial were worth $619,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RF. Smartleaf Asset Management LLC lifted its position in shares of Regions Financial by 102.9% in the third quarter. Smartleaf Asset Management LLC now owns 10,438 shares of the bank’s stock worth $277,000 after purchasing an additional 5,294 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Regions Financial in the 3rd quarter worth approximately $443,000. Canada Post Corp Registered Pension Plan boosted its stake in shares of Regions Financial by 18.8% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 17,700 shares of the bank’s stock valued at $469,000 after buying an additional 2,800 shares during the period. Waterloo Capital L.P. boosted its stake in shares of Regions Financial by 5.5% during the 3rd quarter. Waterloo Capital L.P. now owns 60,760 shares of the bank’s stock valued at $1,602,000 after buying an additional 3,157 shares during the period. Finally, Harmony Asset Management LLC grew its holdings in shares of Regions Financial by 114.0% during the 3rd quarter. Harmony Asset Management LLC now owns 48,900 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 26,050 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Up 1.5%

RF opened at $30.97 on Monday. The firm has a market cap of $27.16 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.10 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day moving average price of $27.85 and a 200 day moving average price of $26.39. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $31.17.

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

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 3.4%. Regions Financial’s payout ratio is currently 46.29%.

Regions Financial announced that its board has initiated a share buyback plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

RF has been the subject of several recent research reports. Stephens reiterated an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $31.00 price target on shares of Regions Financial in a research note on Tuesday, January 20th. Piper Sandler lifted their price target on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research report on Friday, January 16th. Finally, Evercore downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.31.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction 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 represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by company 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.