Healthcare of Ontario Pension Plan Trust Fund Purchases 382,500 Shares of Regions Financial Co. (NYSE:RF)

Healthcare of Ontario Pension Plan Trust Fund grew its position in Regions Financial Co. (NYSE:RF) by 102.7% during the third quarter, HoldingsChannel.com reports. The fund owned 755,100 shares of the bank’s stock after acquiring an additional 382,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Regions Financial were worth $17,616,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its position in shares of Regions Financial by 2.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 620,467 shares of the bank’s stock valued at $14,475,000 after purchasing an additional 17,753 shares during the last quarter. Cadence Bank increased its position in shares of Regions Financial by 2.4% during the 3rd quarter. Cadence Bank now owns 78,171 shares of the bank’s stock valued at $1,824,000 after purchasing an additional 1,834 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Regions Financial during the 3rd quarter valued at approximately $174,000. FMR LLC increased its position in shares of Regions Financial by 8.4% during the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after purchasing an additional 241,838 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC bought a new position in shares of Regions Financial during the 3rd quarter valued at approximately $203,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RF shares. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Wedbush boosted their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. Barclays boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group boosted their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and an average price target of $26.71.

Regions Financial Trading Down 0.2 %

RF opened at $27.25 on Friday. The firm has a market cap of $24.77 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.85 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 12 month low of $15.82 and a 12 month high of $27.96. The stock has a fifty day moving average price of $24.42 and a 200-day moving average price of $22.03.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. As a group, equities research analysts anticipate that Regions Financial Co. will post 2.12 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 Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

About Regions Financial

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.