Pinebridge Investments LLC Acquires New Position in Regions Financial Corporation $RF

Pinebridge Investments LLC acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 855,852 shares of the bank’s stock, valued at approximately $23,194,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. AGF Management Ltd. acquired a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $1,669,000. American Century Companies Inc. boosted its holdings in shares of Regions Financial by 85.9% in the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after buying an additional 2,137,062 shares during the last quarter. Stevens Capital Management LP boosted its holdings in shares of Regions Financial by 355.9% in the 3rd quarter. Stevens Capital Management LP now owns 42,850 shares of the bank’s stock valued at $1,130,000 after buying an additional 33,450 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $860,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Regions Financial by 11.2% in the 3rd quarter. Schroder Investment Management Group now owns 1,732,045 shares of the bank’s stock valued at $45,899,000 after buying an additional 173,871 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. DA Davidson boosted their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Piper Sandler lowered their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, March 30th. Truist Financial restated a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a research note on Tuesday, April 21st. Finally, Brean Capital began coverage on shares of Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.47.

Regions Financial Stock Up 0.5%

Regions Financial stock opened at $28.57 on Friday. The firm has a market capitalization of $24.38 billion, a PE ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.00. The company’s 50-day moving average is $27.48 and its 200-day moving average is $27.49. Regions Financial Corporation has a fifty-two week low of $21.40 and a fifty-two week high of $31.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the business earned $0.54 EPS. Regions Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. Regions Financial’s dividend payout ratio is 44.17%.

Regions Financial Company 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.