Pacer Advisors Inc. Purchases 24,083 Shares of Regions Financial Corporation $RF

Pacer Advisors Inc. boosted its position in Regions Financial Corporation (NYSE:RF) by 32.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 97,656 shares of the bank’s stock after buying an additional 24,083 shares during the period. Pacer Advisors Inc.’s holdings in Regions Financial were worth $2,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. American National Bank & Trust lifted its holdings in shares of Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares in the last quarter. CVA Family Office LLC increased its position in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after acquiring an additional 656 shares during the period. Darwin Wealth Management LLC acquired a new stake in Regions Financial in the 2nd quarter worth about $25,000. Bayforest Capital Ltd boosted its holdings in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,058 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Regions Financial during the 2nd quarter worth approximately $30,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RF shares. Keefe, Bruyette & Woods lifted their price target on shares of Regions Financial from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Truist Financial boosted their price target on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday. Finally, Cowen reaffirmed a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.21.

Regions Financial Stock Down 0.8%

RF stock opened at $27.33 on Wednesday. The firm has a 50-day moving average price of $25.71 and a 200-day moving average price of $25.51. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.98. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $23.96 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. The business had revenue of $1.81 billion during the quarter. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a dividend of $0.265 per share. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. Regions Financial’s payout ratio is currently 46.70%.

Regions Financial announced that its board has authorized a stock buyback program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to repurchase up to 12.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Regions Financial Profile

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.