Cibc World Markets Corp Has $3.38 Million Stake in Regions Financial Co. (NYSE:RF)

Cibc World Markets Corp decreased its stake in Regions Financial Co. (NYSE:RF) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,663 shares of the bank’s stock after selling 33,642 shares during the quarter. Cibc World Markets Corp’s holdings in Regions Financial were worth $3,379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in Regions Financial by 20.0% in the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after buying an additional 253,708 shares in the last quarter. LBP AM SA grew its stake in Regions Financial by 149.4% in the 4th quarter. LBP AM SA now owns 730,614 shares of the bank’s stock valued at $17,184,000 after buying an additional 437,691 shares during the last quarter. Aigen Investment Management LP acquired a new position in Regions Financial in the 4th quarter valued at $1,965,000. Aprio Wealth Management LLC acquired a new position in Regions Financial in the 4th quarter valued at $1,247,000. Finally, Nordea Investment Management AB grew its stake in Regions Financial by 60.4% in the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after buying an additional 99,115 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 3,993 shares of company stock valued at $89,682 in the last ninety days. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RF shares. Citigroup lowered their target price on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Truist Financial raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Barclays raised their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $21.66 on Friday. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The firm has a market cap of $19.62 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The firm’s 50-day simple moving average is $23.49 and its 200-day simple moving average is $23.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.62%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio is currently 51.55%.

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.