Oddo BHF Asset Management Sas Buys 35,864 Shares of Regions Financial Corporation $RF

Key Points

• Oddo BHF Asset Management increased its stake in Regions Financial by 28.2% in the fourth quarter, buying 35,864 shares and bringing its total holding to 163,223 shares valued at about $4.4 million.
• Regions Financial reported better-than-expected quarterly earnings of $0.62 per share, though revenue came in slightly below estimates at $1.87 billion; revenue was still up 5% year over year.
• The bank announced a quarterly dividend of $0.265 per share, implying an annualized yield of 3.7%, while Wall Street currently has a consensus Hold rating on the stock with an average price target of $30.73.

Oddo BHF Asset Management Sas grew its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 28.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,223 shares of the bank's stock after purchasing an additional 35,864 shares during the quarter. Oddo BHF Asset Management Sas' holdings in Regions Financial were worth $4,423,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Regions Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank's stock valued at $862,792,000 after purchasing an additional 215,061 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock worth $618,860,000 after purchasing an additional 9,312,449 shares in the last quarter. Morgan Stanley increased its holdings in shares of Regions Financial by 1.3% in the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank's stock worth $497,459,000 after purchasing an additional 231,924 shares in the last quarter. Norges Bank bought a new stake in shares of Regions Financial in the 4th quarter worth $254,564,000. Finally, LSV Asset Management lifted its position in Regions Financial by 4.0% during the fourth quarter. LSV Asset Management now owns 9,286,352 shares of the bank's stock valued at $251,660,000 after purchasing an additional 357,101 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regions Financial

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

Regions Financial Stock Up 1.4%

Shares of RF opened at $29.01 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $24.75 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.12 and a beta of 1.00. The firm has a fifty day moving average price of $27.88 and a 200-day moving average price of $27.71. Regions Financial Corporation has a 12-month low of $21.40 and a 12-month high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last issued its 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. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. Equities research analysts expect that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Regions Financial Dividend Announcement

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 dividend on an annualized basis and a yield of 3.7%. Regions Financial's dividend payout ratio is 44.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RF shares. Morgan Stanley lowered their price objective on shares of Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Royal Bank Of Canada upped their price target on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $32.00 target price on shares of Regions Financial in a research note on Tuesday, March 3rd. Piper Sandler dropped their price objective on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Finally, Truist Financial reiterated a "hold" rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Seven research 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's stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of "Hold" and an average price target of $30.73.

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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