Northwest & Ethical Investments L.P. Takes Position in Regions Financial Co. (NYSE:RF)

Northwest & Ethical Investments L.P. purchased a new stake in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,214 shares of the bank’s stock, valued at approximately $1,205,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. raised its stake in Regions Financial by 20.0% in the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after buying an additional 253,708 shares in the last quarter. LBP AM SA raised its stake in Regions Financial by 149.4% in the fourth quarter. LBP AM SA now owns 730,614 shares of the bank’s stock valued at $17,184,000 after buying an additional 437,691 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Regions Financial during the fourth quarter worth about $1,965,000. Aprio Wealth Management LLC purchased a new position in shares of Regions Financial during the fourth quarter worth about $1,247,000. Finally, Nordea Investment Management AB grew its holdings in shares of Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after purchasing an additional 99,115 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders purchased 3,993 shares of company stock worth $89,682. Company insiders own 0.29% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE:RF opened at $21.68 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company has a market cap of $19.63 billion, a P/E ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a 50-day moving average price of $23.46 and a 200 day moving average price of $23.94.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 earnings per share. Research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.61%. Regions Financial’s payout ratio is 51.55%.

Wall Street Analysts Forecast Growth

RF has been the topic of several research reports. Citigroup dropped their price objective on Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Piper Sandler raised their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial dropped their price objective on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday. Finally, Compass Point raised their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.

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.