Financiere des Professionnels Fonds d investissement inc. Buys 83,220 Shares of Regions Financial Corporation $RF

Financiere des Professionnels Fonds d investissement inc. lifted its position in Regions Financial Corporation (NYSE:RF) by 1,084.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 90,894 shares of the bank’s stock after purchasing an additional 83,220 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Regions Financial were worth $2,397,000 at the end of the most recent reporting period.

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

Regions Financial Trading Up 1.7%

Shares of NYSE RF opened at $27.56 on Friday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.98. The firm has a market capitalization of $24.16 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. The company’s 50 day simple moving average is $25.89 and its 200 day simple moving average is $25.57.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is currently 46.70%.

Regions Financial announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 10th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RF. Cowen restated a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Stephens reiterated an “equal weight” rating and set a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Truist Financial upped their target price on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Finally, Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research note on Monday, September 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.21.

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.