Healthcare of Ontario Pension Plan Trust Fund Increases Position in Regions Financial Corporation $RF

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Regions Financial Corporation (NYSE:RF) by 57.3% in the first quarter, Holdings Channel reports. The fund owned 54,537 shares of the bank’s stock after buying an additional 19,873 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Regions Financial were worth $1,425,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of RF. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial during the 2nd quarter worth approximately $25,000. SouthState Bank Corp increased its holdings in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares during the last quarter. Princeton Global Asset Management LLC lifted its position in Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after buying an additional 854 shares in the last quarter. Spire Wealth Management lifted its position in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after buying an additional 557 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Regions Financial during the fourth quarter worth $33,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were 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 the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup upped their target price on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price target on shares of Regions Financial in a report on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research report on Monday, July 20th. Evercore restated an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial Trading Up 0.5%

Shares of Regions Financial stock opened at $31.01 on Friday. The firm has a market capitalization of $26.46 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average of $29.71 and a 200 day moving average of $28.45.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio is 43.27%.

Regions Financial 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.