Union Bancaire Privee UBP SA Purchases 597,176 Shares of Regions Financial Corporation $RF

Union Bancaire Privee UBP SA grew its position in shares of Regions Financial Corporation (NYSE:RF) by 6,032.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 607,076 shares of the bank’s stock after purchasing an additional 597,176 shares during the period. Union Bancaire Privee UBP SA’s holdings in Regions Financial were worth $16,139,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. GAM Holding AG acquired a new stake in shares of Regions Financial in the third quarter valued at about $1,760,000. Allspring Global Investments Holdings LLC boosted its holdings in Regions Financial by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after acquiring an additional 233,458 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in Regions Financial by 6.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after purchasing an additional 44,252 shares during the period. iA Global Asset Management Inc. bought a new position in Regions Financial during the 3rd quarter worth approximately $1,378,000. Finally, Teacher Retirement System of Texas raised its holdings in Regions Financial by 111.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock worth $7,662,000 after purchasing an additional 152,987 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $25.20 on Friday. The business has a 50-day simple moving average of $28.29 and a 200 day simple moving average of $26.82. Regions Financial Corporation has a one year low of $17.74 and a one year high of $31.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.89 and a beta of 1.02.

Regions Financial (NYSE:RF) last announced 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). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial announced that its board has approved a stock repurchase program on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 46.29%.

Insider Transactions at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $31.00 target price on shares of Regions Financial in a report on Tuesday, January 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, March 3rd. Finally, Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.97.

About Regions Financial

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.