Alerus Financial NA Invests $2.73 Million in Regions Financial Co. (NYSE:RF)

Posted by Defense World Staff on Jun 13th, 2023

Alerus Financial NA bought a new stake in shares of Regions Financial Co. (NYSE:RF – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 126,741 shares of the bank’s stock, valued at approximately $2,733,000.

Several other hedge funds have also bought and sold shares of RF. CIBC Private Wealth Group LLC lifted its stake in shares of Regions Financial by 3.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 12,452 shares of the bank’s stock valued at $417,000 after buying an additional 435 shares in the last quarter. Southeast Asset Advisors Inc. lifted its position in shares of Regions Financial by 0.5% in the fourth quarter. Southeast Asset Advisors Inc. now owns 98,318 shares of the bank’s stock valued at $2,120,000 after acquiring an additional 449 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake in shares of Regions Financial by 9.3% in the third quarter. Transamerica Financial Advisors Inc. now owns 5,324 shares of the bank’s stock worth $107,000 after acquiring an additional 451 shares during the period. Bell Investment Advisors Inc grew its position in shares of Regions Financial by 30.2% during the fourth quarter. Bell Investment Advisors Inc now owns 1,951 shares of the bank’s stock worth $42,000 after purchasing an additional 452 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Regions Financial by 13.9% during the 4th quarter. HHM Wealth Advisors LLC now owns 4,101 shares of the bank’s stock valued at $88,000 after purchasing an additional 500 shares during the period. Institutional investors own 72.87% of the company’s stock.

Insider Buying and Selling

In related news, Director J Thomas Hill acquired 11,926 shares of the stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost of $16.78 per share, with a total value of $200,118.28. Following the transaction, the director now directly owns 23,107 shares in the company, valued at $387,735.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RF. StockNews.com assumed coverage on shares of Regions Financial in a report on Thursday, May 18th. They set a “sell” rating for the company. Royal Bank of Canada decreased their price target on shares of Regions Financial from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, March 24th. Morgan Stanley cut their price objective on Regions Financial from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, April 5th. Citigroup decreased their target price on Regions Financial from $25.00 to $20.00 in a research report on Friday, April 21st. Finally, UBS Group raised their price target on Regions Financial from $21.00 to $22.00 in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.28.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $18.23 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Regions Financial Co. has a 12 month low of $13.94 and a 12 month high of $24.33. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.77 and a beta of 1.18. The firm’s 50-day moving average is $17.63 and its 200 day moving average is $20.31.

Regions Financial (NYSE:RF – Get Rating) last issued its quarterly earnings results on Friday, April 21st. The bank reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.03). Regions Financial had a return on equity of 16.60% and a net margin of 28.61%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts predict that Regions Financial Co. will post 2.38 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Thursday, June 1st. Regions Financial’s payout ratio is presently 34.19%.

Regions Financial Profile

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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.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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