Andra AP fonden Raises Stock Holdings in Regions Financial Corporation $RF

Andra AP fonden increased its holdings in Regions Financial Corporation (NYSE:RF) by 69.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,400 shares of the bank’s stock after acquiring an additional 220,800 shares during the quarter. Andra AP fonden’s holdings in Regions Financial were worth $14,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock valued at $740,511,000 after acquiring an additional 391,568 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Regions Financial by 0.5% in the second quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock worth $557,370,000 after buying an additional 109,549 shares during the last quarter. Norges Bank purchased a new stake in Regions Financial during the second quarter valued at approximately $246,790,000. Allspring Global Investments Holdings LLC increased its stake in shares of Regions Financial by 2.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after purchasing an additional 233,458 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Regions Financial by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,245,179 shares of the bank’s stock worth $193,927,000 after buying an additional 393,055 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RF shares. UBS Group reissued a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. Truist Financial boosted their price target on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Barclays upped their price target on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Wells Fargo & Company cut 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, Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.84.

Regions Financial Price Performance

RF stock opened at $27.79 on Friday. The stock has a market cap of $24.00 billion, a PE ratio of 12.13, a P/E/G ratio of 1.04 and a beta of 1.04. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $31.53. The company has a 50-day moving average price of $28.68 and a 200 day moving average price of $26.82. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

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

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is currently 46.29%.

Regions Financial declared that its board has initiated a share buyback plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by corporate 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.