Canada Pension Plan Investment Board Increases Position in Regions Financial Co. (NYSE:RF)

Canada Pension Plan Investment Board lifted its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 118.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,902,050 shares of the bank's stock after buying an additional 1,031,572 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.21% of Regions Financial worth $44,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RF. Y.D. More Investments Ltd raised its holdings in Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock valued at $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the 4th quarter worth $28,000. Picton Mahoney Asset Management boosted its position in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in Regions Financial during the fourth quarter worth about $32,000. Finally, Creative Capital Management Investments LLC acquired a new position in Regions Financial in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Insider Activity

In other news, Director Joia M. Johnson acquired 2,300 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

RF has been the topic of several analyst reports. Truist Financial reduced their price target on shares of Regions Financial from $24.00 to $21.00 and set a "hold" rating on the stock in a research report on Tuesday. Barclays lowered their price target on Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Monday. Citigroup lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Morgan Stanley lowered their price target on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Finally, The Goldman Sachs Group dropped their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.53.

Regions Financial Stock Performance

Shares of NYSE RF traded up $0.43 during mid-day trading on Thursday, hitting $20.45. 2,696,577 shares of the company were exchanged, compared to its average volume of 9,401,956. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The stock has a 50 day simple moving average of $21.32 and a 200-day simple moving average of $23.49. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same period in the prior year, the company posted $0.37 earnings per share. On average, sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.89%. Regions Financial's payout ratio is currently 48.08%.

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.