AMF Tjanstepension AB Purchases New Position in Regions Financial Co. (NYSE:RF)

AMF Tjanstepension AB acquired a new stake in shares of Regions Financial Co. (NYSE:RF) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 269,203 shares of the bank’s stock, valued at approximately $6,281,000.

Other institutional investors also recently added to or reduced their stakes in the company. IFG Advisory LLC raised its position in shares of Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares during the period. HB Wealth Management LLC boosted its stake in Regions Financial by 0.6% during the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after buying an additional 551 shares during the period. CWM LLC increased its holdings in Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Regions Financial by 2.8% during the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after acquiring an additional 565 shares during the period. Finally, Signet Financial Management LLC grew its holdings in shares of Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after purchasing an additional 584 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the topic of several analyst reports. Citigroup raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Truist Financial increased their price objective on Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 20th. Royal Bank of Canada upped their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Evercore ISI raised their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.36.

Regions Financial Price Performance

Regions Financial stock opened at $22.56 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. The company has a market cap of $20.66 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. The business has a fifty day moving average of $22.21 and a two-hundred day moving average of $20.62.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, analysts predict that Regions Financial Co. will post 2.01 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

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.