Handelsbanken Fonder AB Has $4.34 Million Stock Position in Regions Financial Corporation $RF

Key Points

• Handelsbanken Fonder AB increased its stake in Regions Financial by 49.5% in the fourth quarter, bringing its holdings to 160,112 shares valued at about $4.34 million.
• Other institutional investors also boosted positions, and hedge funds and institutions now own 79.39% of the company’s stock. That includes several large increases from firms like Victory Capital Management, Qube Research & Technologies, and AQR Capital Management.
• Regions Financial reported Q1 earnings of $0.62 per share, slightly beating estimates, and announced a quarterly dividend of $0.265 per share to be paid July 1, implying a 3.8% annualized yield.

Handelsbanken Fonder AB grew its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 49.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,112 shares of the bank's stock after acquiring an additional 52,996 shares during the quarter. Handelsbanken Fonder AB's holdings in Regions Financial were worth $4,339,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Regions Financial by 52.9% in the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank's stock valued at $357,417,000 after buying an additional 4,679,285 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock valued at $106,061,000 after buying an additional 2,980,505 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank's stock valued at $103,886,000 after buying an additional 2,371,048 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Regions Financial by 85.9% in the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank's stock valued at $121,976,000 after buying an additional 2,137,062 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $54,349,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Insiders Place Their Bets

In related news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Piper Sandler dropped their price target on Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, March 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. dropped their price target on Regions Financial from $31.50 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Finally, Truist Financial restated a "hold" rating and issued a $30.00 price target on shares of Regions Financial in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, eight 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 currently has an average rating of "Hold" and a consensus target price of $30.47.

Regions Financial Stock Up 0.6%

Shares of NYSE RF opened at $27.87 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52 week low of $20.79 and a 52 week high of $31.53. The stock has a market capitalization of $23.78 billion, a P/E ratio of 11.61, a PEG ratio of 1.08 and a beta of 1.02. The stock's fifty day moving average is $26.95 and its 200 day moving average is $27.26.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter last year, the business earned $0.54 earnings per share. Regions Financial's revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.8%. Regions Financial's dividend payout ratio (DPR) is 44.17%.

Regions Financial 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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