Regions Financial Co. (NYSE:RF) Holdings Cut by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Regions Financial Co. (NYSE:RF) by 74.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,000 shares of the bank’s stock after selling 610,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Regions Financial were worth $4,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares during the last quarter. abrdn plc boosted its position in shares of Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after buying an additional 341,878 shares during the period. Mizuho Markets Americas LLC grew its holdings in Regions Financial by 35.6% in the 4th quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock worth $2,968,000 after buying an additional 40,200 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Regions Financial by 1,676.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock worth $1,816,000 after buying an additional 88,437 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Regions Financial by 52.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,012,651 shares of the bank’s stock valued at $19,625,000 after acquiring an additional 348,636 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 2.0 %

Shares of Regions Financial stock opened at $22.55 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $22.85. The firm has a market capitalization of $20.63 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.37 and a beta of 1.18. The stock’s fifty day moving average is $19.78 and its 200-day moving average is $19.40.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. Equities analysts anticipate that Regions Financial Co. will post 1.99 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.43%. Regions Financial’s payout ratio is currently 52.17%.

Insider Activity at Regions Financial

In related news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RF. Truist Financial boosted their price target on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday. Piper Sandler upped their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Citigroup raised their target price on shares of Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America boosted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.32.

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.