Fisher Asset Management LLC Makes New $1.15 Million Investment in Regions Financial Corporation $RF

Fisher Asset Management LLC acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 43,415 shares of the bank’s stock, valued at approximately $1,145,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RF. Charles Schwab Investment Management Inc. boosted its position in shares of Regions Financial by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock worth $740,511,000 after acquiring an additional 391,568 shares during the last quarter. Geode Capital Management LLC increased its holdings in Regions Financial by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock valued at $557,370,000 after acquiring an additional 109,549 shares during the last quarter. Norges Bank purchased a new stake in Regions Financial in the 2nd quarter worth $246,790,000. Allspring Global Investments Holdings LLC lifted its stake in 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 boosted its holdings in shares of Regions Financial by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,245,179 shares of the bank’s stock valued at $193,927,000 after purchasing an additional 393,055 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

NYSE:RF opened at $27.03 on Friday. The firm has a market capitalization of $23.34 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.98 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $28.69 and a 200-day simple moving average of $26.88. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $31.53.

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

Regions Financial declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.265 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. Regions Financial’s payout ratio is 46.29%.

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This 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. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Barclays boosted their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. The Goldman Sachs Group restated a “buy” rating and set a $32.00 price target on shares of Regions Financial in a report on Tuesday, January 6th. Wells Fargo & Company downgraded Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research note on Friday, January 16th. Finally, Morgan Stanley set a $31.00 price objective on Regions Financial in a report on Monday, January 19th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.97.

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.