52,256 Shares in Regions Financial Corporation $RF Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. acquired a new position in Regions Financial Corporation (NYSE:RF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 52,256 shares of the bank’s stock, valued at approximately $1,378,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank & Trust raised its holdings in shares of Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares during the period. CVA Family Office LLC grew its holdings in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after purchasing an additional 656 shares during the period. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter worth $25,000. FNY Investment Advisers LLC bought a new stake in shares of Regions Financial in the second quarter valued at $30,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Regions Financial in the second quarter valued at $32,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Down 2.8%

Shares of Regions Financial stock opened at $27.49 on Friday. The company’s 50-day moving average price is $26.99 and its 200-day moving average price is $26.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $29.25. The company has a market cap of $24.10 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.98 and a beta of 1.03.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company posted $0.56 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial announced that its board has initiated a stock buyback plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RF shares. Piper Sandler lifted their price objective on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Stephens reiterated an “equal weight” rating and issued a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research report on Monday, January 19th. Finally, Truist Financial upped their price target on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus target price of $29.27.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.