Ensign Peak Advisors Inc Acquires 79,806 Shares of Regions Financial Co. (NYSE:RF)

Ensign Peak Advisors Inc increased its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 546,046 shares of the bank's stock after purchasing an additional 79,806 shares during the period. Ensign Peak Advisors Inc owned 0.06% of Regions Financial worth $12,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RF. Norges Bank bought a new stake in Regions Financial during the 4th quarter valued at $279,103,000. Invesco Ltd. lifted its stake in shares of Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares during the last quarter. Deutsche Bank AG boosted its position in Regions Financial by 52.7% during the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock valued at $129,892,000 after purchasing an additional 1,907,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Regions Financial in the fourth quarter worth about $31,480,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RF shares. The Goldman Sachs Group lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company cut their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Keefe, Bruyette & Woods decreased their price objective on Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Truist Financial lowered their price objective on Regions Financial from $24.00 to $21.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.53.

Regions Financial Trading Down 0.7%

Shares of NYSE:RF opened at $21.16 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The business has a 50 day moving average of $20.62 and a two-hundred day moving average of $23.26. The company has a market capitalization of $19.02 billion, a PE ratio of 10.91, a PEG ratio of 1.93 and a beta of 0.97.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same period in the previous year, the business posted $0.37 EPS. As a group, analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, June 2nd. Regions Financial's payout ratio is currently 48.08%.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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