National Bank of Canada FI Cuts Position in Regions Financial Co. (NYSE:RF)

National Bank of Canada FI lowered its stake in shares of Regions Financial Co. (NYSE:RF) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,485,281 shares of the bank’s stock after selling 219,992 shares during the period. National Bank of Canada FI’s holdings in Regions Financial were worth $34,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd grew its stake in Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Regions Financial in the fourth quarter valued at about $28,000. Picton Mahoney Asset Management grew its position in shares of Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial during the 4th quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Regions Financial during the 3rd quarter worth approximately $37,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 2.1 %

RF opened at $22.03 on Thursday. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The firm has a 50 day moving average price of $23.09 and a 200 day moving average price of $23.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $19.95 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19.

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

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RF. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Citigroup decreased their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Truist Financial cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Finally, Compass Point raised their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.17.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson bought 2,300 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares of the company’s stock, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 3,868 shares of company stock valued at $86,722 over the last quarter. Company insiders own 0.29% of the company’s stock.

Regions Financial Company 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.