OMERS ADMINISTRATION Corp Raises Stock Position in Regions Financial Corporation $RF

OMERS ADMINISTRATION Corp increased its position in shares of Regions Financial Corporation (NYSE:RF) by 15.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,151 shares of the bank’s stock after acquiring an additional 18,562 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Regions Financial were worth $3,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Darwin Wealth Management LLC bought a new position in Regions Financial in the 2nd quarter valued at $25,000. SouthState Bank Corp increased its holdings in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the period. Spire Wealth Management increased its holdings in shares of Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC increased its holdings in shares of Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares during the period. Finally, Leonteq Securities AG purchased a new stake in shares of Regions Financial in the fourth quarter worth $33,000. Institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of several research analyst reports. Citigroup lifted their price objective on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, July 20th. DA Davidson upped their target price on Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods raised their price target on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, July 6th. Finally, Morgan Stanley boosted their price objective on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.21.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.75 on Tuesday. The company’s fifty day moving average price is $29.43 and its 200-day moving average price is $28.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $26.25 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $0.60 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Corporation will post 2.62 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.9%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is presently 43.27%.

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.