Regions Financial Corporation $RF Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Regions Financial Corporation (NYSE:RF) by 110.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,433 shares of the bank’s stock after buying an additional 159,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Regions Financial were worth $7,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RF. Charles Schwab Investment Management Inc. lifted its stake in shares of Regions Financial by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after purchasing an additional 215,061 shares during the period. Victory Capital Management Inc. raised its position in shares of Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares during the period. Invesco Ltd. raised its position in shares of Regions Financial by 3.1% in the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after acquiring an additional 573,659 shares during the period. Morgan Stanley boosted its stake in shares of Regions Financial by 1.3% during the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock worth $497,459,000 after acquiring an additional 231,924 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Regions Financial during the 4th quarter worth about $254,564,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $30.29 on Monday. The firm’s fifty day simple moving average is $28.38 and its two-hundred day simple moving average is $28.01. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $31.53. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.15 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts anticipate that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, June 1st. Regions Financial’s payout ratio is 44.17%.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RF. Morgan Stanley raised their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Truist Financial reaffirmed a “hold” rating and issued a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Royal Bank Of Canada increased their price target on Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Brean Capital started coverage on Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Finally, Piper Sandler cut their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 30th. Seven 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.80.

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.