Alberta Investment Management Corp Grows Stock Holdings in Regions Financial Co. (NYSE:RF)

Alberta Investment Management Corp lifted its stake in Regions Financial Co. (NYSE:RF) by 61.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,900 shares of the bank’s stock after purchasing an additional 61,700 shares during the quarter. Alberta Investment Management Corp’s holdings in Regions Financial were worth $3,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RF. Citigroup Inc. raised its holdings in Regions Financial by 20.0% in the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after buying an additional 253,708 shares during the last quarter. Aprio Wealth Management LLC bought a new stake in shares of Regions Financial during the fourth quarter valued at approximately $1,247,000. Nordea Investment Management AB increased its position in shares of Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after acquiring an additional 99,115 shares in the last quarter. Commerce Bank raised its holdings in Regions Financial by 392.5% in the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after acquiring an additional 197,900 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its position in Regions Financial by 1,099.7% in the 4th quarter. Beacon Capital Management LLC now owns 139,665 shares of the bank’s stock valued at $3,285,000 after acquiring an additional 128,023 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the subject of a number of research analyst reports. Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, October 24th. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Barclays raised their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Finally, Piper Sandler boosted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Trading Down 1.9 %

NYSE:RF opened at $24.06 on Friday. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The business has a fifty day moving average price of $24.15 and a 200-day moving average price of $23.88. The firm has a market capitalization of $21.86 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

About Regions Financial

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.