Regions Financial Co. (NYSE:RF) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in Regions Financial Co. (NYSE:RF) by 118.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,902,050 shares of the bank’s stock after purchasing an additional 1,031,572 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Regions Financial were worth $44,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd lifted its position in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after buying an additional 634 shares during the period. Sierra Ocean LLC purchased a new position in shares of Regions Financial during the 4th quarter worth about $28,000. Picton Mahoney Asset Management boosted its position in shares of Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in Regions Financial in the fourth quarter valued at approximately $32,000. Finally, Creative Capital Management Investments LLC purchased a new stake in Regions Financial in the fourth quarter valued at approximately $44,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Trading Up 0.5 %

Shares of RF opened at $19.26 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The stock has a 50-day moving average price of $21.59 and a 200 day moving average price of $23.55. The company has a market capitalization of $17.44 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $0.37 EPS. Sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 5.19%. Regions Financial’s payout ratio is 51.55%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have acquired 3,343 shares of company stock valued at $74,348. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Truist Financial reduced their target price on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Citigroup cut their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Morgan Stanley decreased their target price on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.42.

About Regions Financial

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.