BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in Regions Financial Corporation $RF

BI Asset Management Fondsmaeglerselskab A S boosted its position in Regions Financial Corporation (NYSE:RF) by 132.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 105,109 shares of the bank’s stock after buying an additional 59,919 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Regions Financial were worth $2,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of RF. Norges Bank purchased a new stake in shares of Regions Financial in the second quarter valued at about $246,790,000. Arrowstreet Capital Limited Partnership increased its position in Regions Financial by 620.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after purchasing an additional 2,207,585 shares during the period. Basswood Capital Management L.L.C. purchased a new position in shares of Regions Financial during the 2nd quarter worth approximately $24,927,000. Midwest Trust Co acquired a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $14,519,000. Finally, Schroder Investment Management Group boosted its stake in shares of Regions Financial by 56.8% in the second quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock valued at $36,648,000 after buying an additional 564,281 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RF shares. Stephens reiterated an “equal weight” rating and issued a $27.00 price objective (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Barclays increased their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Truist Financial raised their price objective 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 target price on shares of Regions Financial in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a research report on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $29.31.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Regions Financial Price Performance

Shares of NYSE RF opened at $30.97 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $27.16 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.10 and a beta of 1.04. The company’s 50-day moving average price is $27.85 and its 200 day moving average price is $26.39. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $31.17.

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

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Regions Financial announced that its Board of Directors has approved a share repurchase program on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Regions Financial

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.