iA Global Asset Management Inc. Buys 43,375 Shares of Regions Financial Co. (NYSE:RF)

iA Global Asset Management Inc. lifted its stake in Regions Financial Co. (NYSE:RF) by 72.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,178 shares of the bank’s stock after buying an additional 43,375 shares during the period. iA Global Asset Management Inc.’s holdings in Regions Financial were worth $2,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in RF. Natixis Advisors LLC lifted its stake in Regions Financial by 9.0% during the third quarter. Natixis Advisors LLC now owns 146,031 shares of the bank’s stock worth $3,407,000 after purchasing an additional 12,033 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Regions Financial by 9.2% during the third quarter. Thrivent Financial for Lutherans now owns 79,453 shares of the bank’s stock worth $1,855,000 after purchasing an additional 6,665 shares during the last quarter. Pathstone Holdings LLC lifted its stake in Regions Financial by 1.2% during the third quarter. Pathstone Holdings LLC now owns 268,376 shares of the bank’s stock worth $6,263,000 after purchasing an additional 3,222 shares during the last quarter. Caprock Group LLC lifted its stake in Regions Financial by 4.5% during the third quarter. Caprock Group LLC now owns 19,093 shares of the bank’s stock worth $450,000 after purchasing an additional 827 shares during the last quarter. Finally, Commerce Bank lifted its stake in Regions Financial by 392.5% during the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after purchasing an additional 197,900 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RF shares. Piper Sandler upped their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday. Barclays upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Compass Point upped their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Citigroup lowered their price target on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $27.44.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $21.68 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $23.46 and a two-hundred day moving average price of $23.94. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. 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 (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.39 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued 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 yield of 4.61%. Regions Financial’s payout ratio is currently 51.55%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders acquired 3,993 shares of company stock worth $89,682. Company insiders own 0.29% of the company’s stock.

Regions Financial Company 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.