iA Global Asset Management Inc. Has $3.52 Million Stock Position in Regions Financial Corporation $RF

iA Global Asset Management Inc. boosted its stake in Regions Financial Corporation (NYSE:RF) by 148.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 129,823 shares of the bank’s stock after buying an additional 77,567 shares during the period. iA Global Asset Management Inc.’s holdings in Regions Financial were worth $3,518,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Citizens Bank & Trust Co. increased its stake in Regions Financial by 6.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after acquiring an additional 44,252 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Regions Financial by 111.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after acquiring an additional 152,987 shares in the last quarter. AGF Management Ltd. purchased a new stake in shares of Regions Financial in the 3rd quarter valued at about $1,669,000. American Century Companies Inc. raised its holdings in shares of Regions Financial by 85.9% in 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 in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Regions Financial by 16.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,113,450 shares of the bank’s stock valued at $29,648,000 after acquiring an additional 161,118 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RF shares. Morgan Stanley lowered their price target on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. DA Davidson raised their price target on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, April 20th. Piper Sandler lowered their price target on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. UBS Group reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.06.

Regions Financial Trading Down 0.0%

NYSE RF opened at $26.65 on Monday. Regions Financial Corporation has a 1-year low of $20.79 and a 1-year high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $26.91 and a 200-day moving average of $27.17. The firm has a market cap of $22.75 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share 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 during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the company posted $0.54 EPS. Regions Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is 44.17%.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

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.