OP Asset Management Ltd Takes Position in Regions Financial Corporation $RF

OP Asset Management Ltd bought a new stake in Regions Financial Corporation (NYSE:RF) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 102,904 shares of the bank’s stock, valued at approximately $2,688,000.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Regions Financial by 85.9% in the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after purchasing an additional 2,137,062 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after purchasing an additional 1,600,926 shares during the period. Schroder Investment Management Group boosted its stake in Regions Financial by 11.2% during the third quarter. Schroder Investment Management Group now owns 1,732,045 shares of the bank’s stock worth $45,899,000 after buying an additional 173,871 shares in the last quarter. Barclays PLC boosted its stake in Regions Financial by 12.4% during the third quarter. Barclays PLC now owns 6,254,555 shares of the bank’s stock worth $164,933,000 after buying an additional 689,313 shares in the last quarter. Finally, Interval Partners LP increased its holdings in Regions Financial by 30.5% in the 3rd quarter. Interval Partners LP now owns 786,307 shares of the bank’s stock valued at $20,735,000 after buying an additional 183,694 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RF. Piper Sandler dropped their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Morgan Stanley lowered their target price on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Stephens began coverage on shares of Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target for the company. DA Davidson raised their price target on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Brean Capital initiated coverage on Regions Financial in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.73.

Insider Activity at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Regions Financial Price Performance

Shares of RF stock opened at $30.09 on Friday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $31.53. The firm’s 50 day moving average is $28.16 and its 200-day moving average is $27.89. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.14 and a beta of 1.00. 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 quarterly 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 net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business posted $0.54 earnings per share. Regions Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is presently 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.