National Bank of Canada FI Boosts Stake in Regions Financial Co. (NYSE:RF)

National Bank of Canada FI lifted its position in Regions Financial Co. (NYSE:RF) by 575.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,705,273 shares of the bank’s stock after acquiring an additional 1,452,956 shares during the period. National Bank of Canada FI’s holdings in Regions Financial were worth $39,784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. American National Bank & Trust boosted 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 acquiring an additional 1,114 shares in the last quarter. Quarry LP lifted its holdings in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of 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 purchasing an additional 1,256 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Regions Financial in the 2nd quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Regions Financial in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the topic of several analyst reports. Citigroup boosted their target price on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Truist Financial increased their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Piper Sandler increased their price target 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. Finally, Evercore ISI boosted their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and a consensus price target of $27.18.

Regions Financial Trading Down 0.1 %

Shares of NYSE:RF opened at $26.26 on Monday. The stock’s 50-day simple moving average is $24.85 and its two-hundred day simple moving average is $22.34. The stock has a market capitalization of $23.87 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.72 and a beta of 1.19. Regions Financial Co. has a 52-week low of $16.86 and a 52-week high of $27.96. 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) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business posted $0.49 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts expect that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. Regions Financial’s dividend payout ratio (DPR) is 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.