Andra AP fonden Has $14.22 Million Stake in Regions Financial Corporation $RF

Andra AP fonden raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 69.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 539,400 shares of the bank’s stock after buying an additional 220,800 shares during the quarter. Andra AP fonden owned about 0.06% of Regions Financial worth $14,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Empowered Funds LLC lifted its stake in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares in the last quarter. Woodline Partners LP lifted its position in Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after acquiring an additional 22,216 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Regions Financial in the 2nd quarter worth $321,000. Teacher Retirement System of Texas increased its holdings in Regions Financial by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 137,576 shares of the bank’s stock worth $3,236,000 after purchasing an additional 4,647 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Regions Financial by 13.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 175,133 shares of the bank’s stock valued at $4,119,000 after purchasing an additional 21,000 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on RF. Evercore cut Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $27.00 to $29.00 in a research note on Tuesday, January 6th. Truist Financial boosted their price objective on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Morgan Stanley set a $31.00 target price on shares of Regions Financial in a research report on Monday, January 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Finally, Barclays increased their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.84.

Regions Financial Price Performance

Shares of NYSE RF opened at $27.79 on Friday. The stock’s 50-day simple moving average is $28.68 and its two-hundred day simple moving average is $26.82. The firm has a market capitalization of $24.00 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.04 and a beta of 1.04. 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 Corporation has a twelve month low of $17.74 and a twelve month high of $31.53.

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

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Regions Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

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.