National Bank of Canada FI Acquires 1,452,956 Shares of Regions Financial Co. (NYSE:RF)

National Bank of Canada FI increased its stake in Regions Financial Co. (NYSE:RF - Free Report) by 575.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,705,273 shares of the bank's stock after purchasing an additional 1,452,956 shares during the period. National Bank of Canada FI owned approximately 0.19% of Regions Financial worth $39,784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. American National Bank & Trust lifted its stake in Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP boosted its stake in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after buying an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after acquiring an additional 1,256 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Regions Financial during the second quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Regions Financial during the second quarter worth approximately $33,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price objective on Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, November 15th. Morgan Stanley restated an "equal weight" rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised Regions Financial from a "hold" rating to a "buy" rating and lifted their price target for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and an average target price of $27.41.

Regions Financial Trading Down 2.0 %

Shares of NYSE RF traded down $0.52 during midday trading on Monday, hitting $25.75. 6,824,072 shares of the company traded hands, compared to its average volume of 7,862,652. Regions Financial Co. has a 12-month low of $17.18 and a 12-month high of $27.96. The firm has a market cap of $23.40 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.72 and a beta of 1.19. The stock has a 50-day moving average price of $24.90 and a 200 day moving average price of $22.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm's revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. As a group, analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.88%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio is currently 56.50%.

Regions Financial Company 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.