Regions Financial Co. (NYSE:RF) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Regions Financial Co. (NYSE:RF) by 78.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,600 shares of the bank’s stock after buying an additional 163,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Regions Financial were worth $7,467,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. EntryPoint Capital LLC acquired a new position in Regions Financial in the 1st quarter valued at $26,000. Quarry LP raised its stake in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the last quarter. MV Capital Management Inc. raised its stake in Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Regions Financial in the 2nd quarter valued at $32,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $22.84 on Friday. The business has a 50-day moving average of $22.21 and a 200 day moving average of $20.65. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $23.47. The stock has a market capitalization of $20.92 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. As a group, sell-side analysts forecast that Regions Financial Co. will post 2.01 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.38%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Royal Bank of Canada raised their target price on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Truist Financial raised their target price on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Citigroup raised their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Keefe, Bruyette & Woods cut their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.36.

Regions Financial Profile

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.