iA Global Asset Management Inc. Has $2.19 Million Position in Regions Financial Corporation $RF

iA Global Asset Management Inc. trimmed its position in Regions Financial Corporation (NYSE:RF) by 35.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,890 shares of the bank’s stock after selling 45,933 shares during the quarter. iA Global Asset Management Inc.’s holdings in Regions Financial were worth $2,191,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in Regions Financial during the second quarter worth about $25,000. SouthState Bank Corp raised its stake in Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares in the last quarter. Spire Wealth Management boosted its holdings in Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC boosted its holdings in Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after purchasing an additional 854 shares during the period. Finally, Leonteq Securities AG acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $33,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RF shares. Morgan Stanley raised their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial reissued a “hold” rating and set a $30.00 price target on shares of Regions Financial in a research report on Tuesday, April 21st. Stephens started coverage on Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada upped their target price on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.80.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.29 on Friday. The firm has a 50 day moving average of $28.33 and a 200-day moving average of $27.99. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $25.84 billion, a PE ratio of 12.62, a PEG ratio of 1.17 and a beta of 1.00.

Regions Financial (NYSE:RF) last posted its quarterly 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. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. On average, equities research analysts predict that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is currently 44.17%.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Regions Financial 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.