Regions Financial Corporation $RF Position Lifted by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its stake in Regions Financial Corporation (NYSE:RF) by 54.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 92,163 shares of the bank’s stock after purchasing an additional 32,528 shares during the period. Vinva Investment Management Ltd’s holdings in Regions Financial were worth $2,442,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in Regions Financial in the second quarter worth about $25,000. United Community Bank bought a new stake in Regions Financial in the third quarter valued at about $30,000. Salomon & Ludwin LLC acquired a new stake in Regions Financial during the third quarter valued at approximately $32,000. Elevation Point Wealth Partners LLC bought a new position in Regions Financial during the 2nd quarter worth approximately $33,000. Finally, Clearstead Trust LLC lifted its holdings in Regions Financial by 574.5% during the 2nd quarter. Clearstead Trust LLC now owns 1,430 shares of the bank’s stock worth $34,000 after buying an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Regions Financial Stock Down 0.3%

Shares of Regions Financial stock opened at $26.97 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $31.53. The business’s fifty day moving average price is $28.67 and its two-hundred day moving average price is $26.91. The company has a market capitalization of $23.29 billion, a P/E ratio of 11.78, a PEG ratio of 0.96 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. As a group, research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial declared that its board has initiated a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio is currently 46.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $31.00 price target on shares of Regions Financial in a report on Tuesday, January 20th. Truist Financial raised their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, February 9th. Evercore lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $27.00 to $29.00 in a research note on Tuesday, January 6th. Finally, UBS Group reissued a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a report on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.97.

Regions Financial Company 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.