Avanza Fonder AB Has $2.31 Million Holdings in Regions Financial Corporation $RF

Avanza Fonder AB boosted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,193 shares of the bank’s stock after acquiring an additional 27,348 shares during the period. Avanza Fonder AB’s holdings in Regions Financial were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RF. First Heartland Consultants Inc. bought a new stake in shares of Regions Financial in the fourth quarter worth about $311,000. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Regions Financial during the 4th quarter valued at about $35,000. SG Americas Securities LLC lifted its holdings in shares of Regions Financial by 1,026.9% during the 4th quarter. SG Americas Securities LLC now owns 770,869 shares of the bank’s stock valued at $20,891,000 after purchasing an additional 702,465 shares in the last quarter. TABR Capital Management LLC acquired a new position in shares of Regions Financial in the 4th quarter valued at approximately $6,281,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Regions Financial by 3.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 294,061 shares of the bank’s stock valued at $8,451,000 after purchasing an additional 10,200 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Up 0.6%

NYSE:RF opened at $25.63 on Wednesday. The company has a market cap of $22.13 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $31.53. The business has a 50 day moving average price of $28.13 and a two-hundred day moving average price of $26.78. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. Regions Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. As a group, analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, March 2nd. Regions Financial’s payout ratio is presently 46.29%.

Regions Financial announced that its board has initiated a share repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have commented on RF shares. Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Barclays upped their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Truist Financial lowered their price objective on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Monday. The Goldman Sachs Group restated a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. Finally, Evercore lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.91.

Insider Buying and Selling

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