Czech National Bank Grows Stake in Regions Financial Co. (NYSE:RF)

Posted by Defense World Staff on Jun 30th, 2023

Czech National Bank raised its stake in Regions Financial Co. (NYSE:RF – Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,030 shares of the bank’s stock after acquiring an additional 626 shares during the period. Czech National Bank’s holdings in Regions Financial were worth $2,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of Regions Financial by 3.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 12,452 shares of the bank’s stock valued at $417,000 after purchasing an additional 435 shares in the last quarter. Southeast Asset Advisors Inc. lifted its holdings in shares of Regions Financial by 0.5% during the fourth quarter. Southeast Asset Advisors Inc. now owns 98,318 shares of the bank’s stock valued at $2,120,000 after purchasing an additional 449 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings 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 valued at $42,000 after purchasing an additional 452 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Regions Financial by 13.9% during the fourth 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 in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Regions Financial by 5.7% during the fourth quarter. Assetmark Inc. now owns 9,362 shares of the bank’s stock valued at $202,000 after purchasing an additional 506 shares in the last quarter. 73.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RF shares. Piper Sandler lowered their price target on Regions Financial from $27.50 to $25.00 in a report on Monday, April 24th. Wells Fargo & Company lowered their target price on Regions Financial from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 3rd. Barclays lowered their target price on Regions Financial from $29.00 to $23.00 in a report on Wednesday, April 12th. Truist Financial lowered their target price on Regions Financial from $20.00 to $19.00 in a report on Thursday. Finally, Citigroup lowered their target price on Regions Financial from $25.00 to $20.00 in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.22.

Insider Buying and Selling at Regions Financial

In other news, Director J Thomas Hill purchased 11,926 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $16.78 per share, for a total transaction of $200,118.28. Following the acquisition, the director now directly owns 23,107 shares of the company’s stock, valued at approximately $387,735.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Regions Financial Stock Performance

NYSE:RF opened at $17.69 on Friday. 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 stock has a 50-day moving average price of $17.42 and a 200 day moving average price of $19.91. The stock has a market capitalization of $16.60 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.72 and a beta of 1.18.

Regions Financial (NYSE:RF – Free Report) last released its earnings results on Friday, April 21st. The bank reported $0.62 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts forecast that Regions Financial Co. will post 2.37 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, June 1st. Regions Financial’s dividend payout ratio is presently 34.19%.

Regions Financial Profile

(Free Report)

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.