Arbejdsmarkedets Tillaegspension Takes $23.84 Million Position in Regions Financial Corporation $RF

Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 879,688 shares of the bank’s stock, valued at approximately $23,840,000.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Regions Financial by 52.9% during the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after acquiring an additional 4,679,285 shares during the period. Barclays PLC boosted its holdings in Regions Financial by 12.4% during the 3rd quarter. Barclays PLC now owns 6,254,555 shares of the bank’s stock valued at $164,933,000 after acquiring an additional 689,313 shares during the period. Legal & General Group Plc boosted its holdings in Regions Financial by 1.6% during the 3rd quarter. Legal & General Group Plc now owns 5,805,951 shares of the bank’s stock valued at $153,103,000 after acquiring an additional 93,389 shares during the period. American Century Companies Inc. boosted its holdings in Regions Financial by 85.9% during the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after acquiring an additional 2,137,062 shares during the period. Finally, Thornburg Investment Management Inc. boosted its holdings in Regions Financial by 0.6% during the 3rd quarter. Thornburg Investment Management Inc. now owns 4,624,765 shares of the bank’s stock valued at $121,955,000 after acquiring an additional 28,669 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

Regions Financial Stock Up 0.7%

Shares of NYSE:RF opened at $26.81 on Friday. Regions Financial Corporation has a 52-week low of $20.79 and a 52-week high of $31.53. The firm has a market capitalization of $22.88 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.04 and a beta of 1.02. The stock has a 50 day moving average price of $26.93 and a 200-day moving average price of $27.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) 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 firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is 44.17%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RF shares. Royal Bank Of Canada increased their target price on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Morgan Stanley dropped their target price on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Truist Financial restated a “hold” rating and set a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. 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. Finally, Brean Capital initiated coverage on Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.06.

Regions Financial Company Profile

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.