iA Global Asset Management Inc. Has $3.52 Million Position in Regions Financial Corporation $RF

Key Points

• iA Global Asset Management boosted its stake in Regions Financial by 148.4% in the fourth quarter, ending with 129,823 shares valued at about $3.52 million.
• Institutional interest in RF remains high, with several funds adding shares and 79.39% of the stock now held by institutional investors and hedge funds.
• Regions Financial reported quarterly earnings of $0.62 per share, slightly beating estimates, and also announced a quarterly dividend of $0.265 per share, implying a 4.0% yield.

iA Global Asset Management Inc. raised its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 148.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,823 shares of the bank's stock after buying an additional 77,567 shares during the period. iA Global Asset Management Inc.'s holdings in Regions Financial were worth $3,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Millennium Capital Advisors LLC acquired a new stake in Regions Financial in the 4th quarter valued at $206,000. Canada Post Corp Registered Pension Plan increased its stake in Regions Financial by 259.6% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 63,646 shares of the bank's stock valued at $1,725,000 after buying an additional 45,946 shares during the last quarter. Stephens Inc. AR increased its stake in Regions Financial by 3.2% in the 4th quarter. Stephens Inc. AR now owns 70,335 shares of the bank's stock valued at $1,906,000 after buying an additional 2,152 shares during the last quarter. DNB Asset Management AS increased its stake in Regions Financial by 2.1% in the 4th quarter. DNB Asset Management AS now owns 170,261 shares of the bank's stock valued at $4,614,000 after buying an additional 3,506 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in Regions Financial in the 4th quarter valued at $23,840,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RF has been the topic of several recent research reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $31.00 price target on shares of Regions Financial in a research note on Tuesday, January 20th. Truist Financial reiterated a "hold" rating and issued a $30.00 price target on shares of Regions Financial in a research note on Tuesday, April 21st. Morgan Stanley lowered their price target on shares of 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. UBS Group reiterated a "neutral" rating and issued a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada lifted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Seven equities 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $30.06.

Regions Financial Stock Down 0.0%

Regions Financial stock opened at $26.65 on Monday. The firm has a market capitalization of $22.75 billion, a PE ratio of 11.11, a P/E/G ratio of 1.04 and a beta of 1.02. The company's 50-day moving average is $26.91 and its 200-day moving average is $27.17. Regions Financial Corporation has a fifty-two week low of $20.79 and a fifty-two week high of $31.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

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

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.265 per share. The ex-dividend date is Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 4.0%. Regions Financial's payout ratio is currently 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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