Swiss Life Asset Management Ltd Boosts Holdings in Regions Financial Corporation $RF

Key Points

• Swiss Life Asset Management boosted its stake in Regions Financial by 244.4% in the fourth quarter, ending with 2.26 million shares valued at about $61.1 million.
• Regions Financial reported better-than-expected EPS of $0.62 for the quarter, though revenue of $1.87 billion came in slightly below estimates. The company also said quarterly revenue rose 5% year over year.
• The bank announced a quarterly dividend of $0.265 per share, equal to an annualized yield of about 3.8%. Meanwhile, analysts currently rate the stock a consensus Hold with an average price target of $30.12.

Swiss Life Asset Management Ltd raised its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 244.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,255,888 shares of the bank's stock after buying an additional 1,600,926 shares during the quarter. Swiss Life Asset Management Ltd owned approximately 0.26% of Regions Financial worth $61,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the 2nd quarter valued at about $25,000. United Community Bank acquired a new position in shares of Regions Financial in the 3rd quarter valued at about $30,000. Spire Wealth Management lifted its stake in shares of Regions Financial by 91.5% in 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 stake in shares of Regions Financial by 260.4% in 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. acquired a new position in shares of Regions Financial in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Brean Capital assumed coverage on Regions Financial in a research note on Thursday, March 12th. They issued a "neutral" rating on the stock. Wells Fargo & Company lowered Regions Financial from an "equal weight" rating to an "underweight" rating and set a $30.00 price objective on the stock. in a research note on Friday, January 16th. Truist Financial reaffirmed a "hold" rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Tuesday, April 21st. 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 research note on Monday, April 20th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $30.12.

Regions Financial Stock Performance

NYSE RF opened at $27.65 on Monday. The business's 50-day simple moving average is $27.07 and its 200-day simple moving average is $27.06. The firm has a market capitalization of $23.59 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.08 and a beta of 1.02. 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 Corporation has a 1-year low of $20.79 and a 1-year high of $31.53.

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

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.265 per share. 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 payout ratio is 44.17%.

Insider Buying and Selling

In related news, EVP Brian R. Willman sold 7,014 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was 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 the SEC website. Company insiders own 0.34% of the company's stock.

About Regions Financial

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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