Swedbank AB Increases Holdings in Regions Financial Corporation $RF

Swedbank AB grew its holdings in shares of Regions Financial Corporation (NYSE:RF) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 765,429 shares of the bank’s stock after buying an additional 18,140 shares during the quarter. Swedbank AB owned 0.09% of Regions Financial worth $20,743,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RF. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the 2nd quarter valued at about $25,000. United Community Bank purchased a new position in shares of Regions Financial in the 3rd quarter worth approximately $30,000. Spire Wealth Management boosted its holdings in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC boosted its holdings in shares of Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of Regions Financial in the 4th quarter worth approximately $35,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RF shares. Piper Sandler dropped their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. JPMorgan Chase & Co. dropped their target price on Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. UBS Group reiterated a “neutral” rating and issued a $30.00 target price on shares of Regions Financial in a report on Wednesday, February 4th. Truist Financial reiterated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Finally, Wells Fargo & Company cut Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average price target of $30.12.

Regions Financial Price Performance

Shares of RF stock opened at $27.65 on Friday. Regions Financial Corporation has a twelve month low of $20.79 and a twelve month high of $31.53. The stock has a market capitalization of $23.87 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.09 and a beta of 1.02. The stock has a fifty day simple moving average of $27.07 and a two-hundred day simple moving average of $27.06. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the business earned $0.54 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts predict that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio is currently 44.17%.

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.