Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $9.21 Million Position in Regions Financial Corporation $RF

Key Points

• Fideuram Intesa Sanpaolo Private Banking initiated a new stake in Regions Financial, buying 339,689 shares worth about $9.21 million in the fourth quarter. Institutional investors now hold a large majority of the stock, at 79.39%.
• Regions Financial reported Q1 earnings of $0.62 per share, beating estimates by a penny, while revenue came in slightly below expectations at $1.87 billion. The company still posted 5% year-over-year revenue growth.
• Analysts are divided on RF, with a consensus rating of “Hold” and an average price target of $30.06. The stock last traded at $26.86, and the bank also announced a quarterly dividend of $0.265 per share, yielding about 3.9%.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 339,689 shares of the bank's stock, valued at approximately $9,206,000.

Several other institutional investors have also modified their holdings of RF. Darwin Wealth Management LLC bought a new position in shares of Regions Financial during the 2nd quarter valued at about $25,000. United Community Bank bought a new position in shares of Regions Financial during the 3rd quarter valued at about $30,000. Spire Wealth Management lifted its holdings in shares of Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock valued at $32,000 after purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC lifted its holdings in shares of Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Regions Financial during the 4th quarter valued at about $35,000. Institutional investors own 79.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RF shares. Royal Bank Of Canada lifted their price objective on Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Morgan Stanley cut their price objective on Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $32.00 price target on shares of Regions Financial in a research report on Tuesday, March 3rd. Piper Sandler reduced their price target on Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, March 30th. Finally, UBS Group reaffirmed a "neutral" rating and set a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Regions Financial has a consensus rating of "Hold" and an average target price of $30.06.

Regions Financial Trading Down 0.4%

NYSE RF opened at $26.86 on Wednesday. The company has a market cap of $22.92 billion, a PE ratio of 11.19, a PEG ratio of 1.05 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 12 month low of $20.79 and a 12 month high of $31.53. The stock has a 50 day moving average of $26.89 and a 200-day moving average of $27.21.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, equities research analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial's dividend payout ratio is presently 44.17%.

Insider Activity at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

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.

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