CIBC Asset Management Inc Has $6.13 Million Stock Holdings in Regions Financial Corporation $RF

CIBC Asset Management Inc boosted its position in shares of Regions Financial Corporation (NYSE:RF) by 52.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 226,139 shares of the bank’s stock after purchasing an additional 78,182 shares during the period. CIBC Asset Management Inc’s holdings in Regions Financial were worth $6,128,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Marble Wealth LLC acquired a new stake in Regions Financial during the fourth quarter valued at $1,024,000. Bank of New York Mellon Corp raised its holdings in Regions Financial by 12.9% during the fourth quarter. Bank of New York Mellon Corp now owns 6,460,310 shares of the bank’s stock valued at $175,074,000 after buying an additional 736,296 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Regions Financial by 20.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 4,245 shares of the bank’s stock valued at $115,000 after buying an additional 733 shares in the last quarter. Natixis Advisors LLC raised its holdings in Regions Financial by 14.2% during the fourth quarter. Natixis Advisors LLC now owns 477,680 shares of the bank’s stock valued at $12,945,000 after buying an additional 59,236 shares in the last quarter. Finally, Fielder Capital Group LLC bought a new position in Regions Financial during the fourth quarter valued at about $266,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. Truist Financial restated a “hold” rating and set a $30.00 price target on shares of Regions Financial in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price target on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. DA Davidson boosted their price target on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, 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 research note on Monday, March 30th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Regions Financial has an average rating of “Hold” and a consensus target price of $30.47.

Regions Financial Stock Up 0.5%

NYSE:RF opened at $28.57 on Friday. The stock’s fifty day moving average price is $27.48 and its two-hundred day moving average price is $27.49. Regions Financial Corporation has a 52-week low of $21.40 and a 52-week high of $31.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $24.38 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.00.

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

Regions Financial Dividend Announcement

The company 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 $0.265 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. Regions Financial’s dividend payout ratio is currently 44.17%.

Insider Activity

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial 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 filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.

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.