Raymond James Financial Inc. Invests $31.48 Million in Regions Financial Co. (NYSE:RF)

Raymond James Financial Inc. acquired a new stake in Regions Financial Co. (NYSE:RF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,338,430 shares of the bank's stock, valued at approximately $31,480,000. Raymond James Financial Inc. owned 0.15% of Regions Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in Regions Financial in the 4th quarter valued at about $279,103,000. Invesco Ltd. increased its stake in shares of Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after buying an additional 1,963,954 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after acquiring an additional 1,396,647 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Regions Financial by 247.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank's stock worth $40,891,000 after acquiring an additional 1,237,538 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Regions Financial by 2,309.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 653,963 shares of the bank's stock worth $15,381,000 after acquiring an additional 626,820 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.67 during trading hours on Tuesday, hitting $19.76. 10,732,594 shares of the company were exchanged, compared to its average volume of 8,128,020. The business has a 50-day moving average of $21.41 and a 200-day moving average of $23.52. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same quarter in the prior year, the firm earned $0.37 EPS. As a group, analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio is presently 48.08%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson bought 2,300 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have acquired 3,343 shares of company stock worth $74,348. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Regions Financial from $24.00 to $21.00 and set a "hold" rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price target on Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday. Morgan Stanley dropped their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Barclays cut their target price on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Monday. Finally, Citigroup lowered their price target on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.53.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.