Regions Financial Co. (NYSE:RF) Shares Bought by Meitav Investment House Ltd.

Meitav Investment House Ltd. raised its stake in shares of Regions Financial Co. (NYSE:RF) by 31.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,339 shares of the bank’s stock after buying an additional 4,117 shares during the period. Meitav Investment House Ltd.’s holdings in Regions Financial were worth $408,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RF. State Street Corp raised its position in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Regions Financial by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after purchasing an additional 112,885 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Regions Financial by 0.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after purchasing an additional 61,426 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF opened at $24.06 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $21.86 billion, a PE ratio of 12.40, a PEG ratio of 1.97 and a beta of 1.20. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The firm’s 50 day moving average price is $24.15 and its 200 day moving average price is $23.88.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.16%. Regions Financial’s dividend payout ratio is currently 51.55%.

Wall Street Analyst Weigh In

Several research analysts have commented on RF shares. The Goldman Sachs Group raised their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Citigroup upped their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Compass Point lifted their price objective 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. Morgan Stanley restated an “equal weight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

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.