Northwest & Ethical Investments L.P. Invests $1.21 Million in Regions Financial Co. (NYSE:RF)

Northwest & Ethical Investments L.P. bought a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 51,214 shares of the bank's stock, valued at approximately $1,205,000.

Other hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd increased its position in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after purchasing an additional 634 shares during the period. Sierra Ocean LLC bought a new position in shares of Regions Financial in the 4th quarter valued at about $28,000. Picton Mahoney Asset Management grew 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 worth $29,000 after buying an additional 1,201 shares during the period. Truvestments Capital LLC bought a new stake in shares of Regions Financial during the third quarter worth approximately $37,000. Finally, Legacy Investment Solutions LLC acquired a new position in Regions Financial in the third quarter valued at approximately $37,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Down 0.8 %

RF traded down $0.19 during trading hours on Wednesday, hitting $22.24. 6,674,399 shares of the company's stock were exchanged, compared to its average volume of 7,465,612. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The stock's 50-day moving average is $23.40 and its two-hundred day moving average is $23.96. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.93 and a beta of 1.19.

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Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the company earned $0.39 EPS. Regions Financial's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is 51.55%.

Analyst Ratings Changes

A number of analysts have commented on RF shares. 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 report on Monday. Piper Sandler upped their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Truist Financial reduced their target price on Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Barclays upped their price target on Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a research note on Monday, January 6th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.28.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 3,993 shares of company stock worth $89,682 in the last 90 days. Corporate insiders own 0.29% of the company's stock.

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.