North Dakota State Investment Board Takes $835,000 Position in Regions Financial Corporation $RF

North Dakota State Investment Board acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,815 shares of the bank’s stock, valued at approximately $835,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Regions Financial by 52.9% during the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after buying an additional 4,679,285 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Regions Financial by 286.2% during the third quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after buying an additional 2,980,505 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Regions Financial by 151.2% during the third quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after buying an additional 2,371,048 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Regions Financial by 85.9% during the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after buying an additional 2,137,062 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Regions Financial during the third quarter valued at approximately $54,349,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RF shares. Piper Sandler cut their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. cut their price objective on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley cut their price objective on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Brean Capital began coverage on Regions Financial in a research report on Thursday, March 12th. They issued a “neutral” rating on the stock. Finally, UBS Group reissued a “neutral” rating and issued a $30.00 price objective on shares of Regions Financial in a research report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.47.

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Regions Financial Stock Up 2.5%

Shares of NYSE RF opened at $27.52 on Thursday. Regions Financial Corporation has a one year low of $20.79 and a one year high of $31.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The business’s fifty day moving average price is $26.90 and its 200-day moving average price is $27.23. The stock has a market capitalization of $23.48 billion, a PE ratio of 11.47, a P/E/G ratio of 1.05 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio is currently 44.17%.

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.