AIA Group Ltd lifted its stake in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 81.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,271 shares of the bank’s stock after buying an additional 5,501 shares during the quarter. AIA Group Ltd’s holdings in Regions Financial were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of RF. First Trust Advisors LP grew its position in shares of Regions Financial by 296.5% during the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock worth $234,902,000 after buying an additional 7,891,037 shares during the period. Neuberger Berman Group LLC grew its position in shares of Regions Financial by 141.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 6,820,663 shares of the bank’s stock worth $136,889,000 after buying an additional 3,995,271 shares during the period. Great West Life Assurance Co. Can acquired a new stake in Regions Financial in the 3rd quarter valued at $50,869,000. 140 Summer Partners LP acquired a new stake in Regions Financial in the 3rd quarter valued at $46,040,000. Finally, Bahl & Gaynor Inc. acquired a new stake in Regions Financial in the 3rd quarter valued at $38,032,000. Institutional investors and hedge funds own 72.87% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. Royal Bank of Canada reduced their price target on shares of Regions Financial from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Truist Financial reduced their price target on shares of Regions Financial from $27.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Regions Financial from $25.00 to $24.00 in a research report on Friday, January 6th. Finally, UBS Group raised shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Monday, April 10th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.68.
Regions Financial Stock Up 0.7 %
Regions Financial (NYSE:RF – Get Rating) last posted its earnings results on Friday, January 20th. The bank reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 16.14% and a net margin of 29.81%. On average, equities analysts predict that Regions Financial Co. will post 2.49 EPS for the current fiscal year.
Regions Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 4th. Stockholders of record on Friday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, March 9th. Regions Financial’s payout ratio is 35.24%.
Insider Transactions at Regions Financial
In other news, EVP William D. Ritter sold 13,000 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the completion of the transaction, the executive vice president now owns 24,344 shares of the company’s stock, valued at $570,136.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP William D. Ritter sold 13,000 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the completion of the transaction, the executive vice president now owns 24,344 shares of the company’s stock, valued at $570,136.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP C. Matthew Lusco sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total value of $2,283,000.00. Following the completion of the sale, the executive vice president now directly owns 77,843 shares of the company’s stock, valued at approximately $1,777,155.69. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
About Regions Financial
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.
Read More
- Get a free copy of the StockNews.com research report on Regions Financial (RF)
- MarketBeat Week in Review – 4/10 – 4/14
- What is an IRA Account? All About IRAs
- Investing in Quantum Computing: A Guide
- Earnings Beat Proves Citigroup to be The Cheaper Bank Stock
- How to Invest in an IRA in 7 Simple Steps
Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Co. (NYSE:RF – Get Rating).
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.
