63,305 Shares in Regions Financial Corporation $RF Acquired by AGF Management Ltd.

AGF Management Ltd. purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 63,305 shares of the bank’s stock, valued at approximately $1,669,000.

Other large investors also recently made changes to their positions in the company. Woodmont Investment Counsel LLC lifted its holdings in shares of Regions Financial by 14.6% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 10,031 shares of the bank’s stock valued at $265,000 after acquiring an additional 1,275 shares in the last quarter. United Community Bank purchased a new position in Regions Financial in the third quarter valued at about $30,000. Jones Financial Companies Lllp raised its position in Regions Financial by 16.9% in 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 during the period. Forthright Family Wealth Advisory LLC acquired a new position in shares of Regions Financial during the third quarter worth about $205,000. Finally, Uptick Partners LLC boosted its position in shares of Regions Financial by 12.1% in the third quarter. Uptick Partners LLC now owns 17,278 shares of the bank’s stock worth $456,000 after buying an additional 1,871 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF stock opened at $30.49 on Friday. The firm has a fifty day moving average of $27.74 and a two-hundred day moving average of $26.35. The firm has a market cap of $26.74 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.08 and a beta of 1.04. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $30.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last issued 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). The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. As a group, research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio is currently 46.29%.

Regions Financial declared that its board has approved a stock buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RF. Piper Sandler boosted their price target on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Tuesday, January 20th. Truist Financial lifted their price target on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Stephens reissued an “equal weight” rating and issued a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Finally, Evercore ISI lowered Regions Financial from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.31.

Insider Transactions at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the transaction, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

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.