Allstate Corp Buys 33,472 Shares of Regions Financial Corporation $RF

Allstate Corp raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 107.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 64,712 shares of the bank’s stock after acquiring an additional 33,472 shares during the period. Allstate Corp’s holdings in Regions Financial were worth $1,754,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. AGF Management Ltd. bought a new position in shares of Regions Financial during the third quarter valued at $1,669,000. American Century Companies Inc. lifted its holdings in shares of Regions Financial by 85.9% during the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after purchasing an additional 2,137,062 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Regions Financial by 16.9% during the third quarter. Jones Financial Companies Lllp now owns 1,113,450 shares of the bank’s stock valued at $29,648,000 after purchasing an additional 161,118 shares in the last quarter. Stevens Capital Management LP lifted its holdings in shares of Regions Financial by 355.9% during the third quarter. Stevens Capital Management LP now owns 42,850 shares of the bank’s stock valued at $1,130,000 after purchasing an additional 33,450 shares in the last quarter. Finally, ABC Arbitrage SA bought a new position in shares of Regions Financial during the third quarter valued at $860,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of research analyst reports. Brean Capital initiated coverage on Regions Financial in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. DA Davidson raised their target price on Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Piper Sandler dropped their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average target price of $30.47.

Regions Financial Stock Performance

NYSE:RF opened at $27.85 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 12-month low of $20.79 and a 12-month high of $31.53. The stock has a 50-day moving average price of $27.17 and a 200 day moving average price of $27.39. The stock has a market capitalization of $23.77 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.10 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its earnings results 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 analysts’ expectations of $1.92 billion. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.265 per share. The ex-dividend date is Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. Regions Financial’s dividend payout ratio (DPR) is currently 44.17%.

Insider Activity

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

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.