Healthcare of Ontario Pension Plan Trust Fund Has $4.40 Million Stake in Regions Financial Co. (NYSE:RF)

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Regions Financial Co. (NYSE:RF) by 74.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 209,000 shares of the bank’s stock after selling 610,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Regions Financial were worth $4,397,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the last quarter. Norges Bank bought a new stake in Regions Financial in the 4th quarter valued at $210,379,000. Allspring Global Investments Holdings LLC increased its position in Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after buying an additional 103,529 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Regions Financial by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock worth $70,952,000 after purchasing an additional 606,647 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Regions Financial Price Performance

Shares of RF opened at $22.55 on Friday. The stock has a market cap of $20.63 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.37 and a beta of 1.18. The business’s fifty day moving average is $19.78 and its 200 day moving average is $19.40. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $22.85.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. Sell-side analysts anticipate that Regions Financial Co. will post 1.99 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.43%. Regions Financial’s payout ratio is presently 52.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Piper Sandler increased their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Royal Bank of Canada lifted their price target on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial upped their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Monday. Finally, Evercore ISI decreased their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.32.

Regions Financial Profile

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.