Nordea Investment Management AB Buys 251,666 Shares of Regions Financial Corporation $RF

Nordea Investment Management AB raised its stake in Regions Financial Corporation (NYSE:RF) by 60.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,977 shares of the bank’s stock after acquiring an additional 251,666 shares during the period. Nordea Investment Management AB’s holdings in Regions Financial were worth $17,546,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RF. American National Bank & Trust raised its stake 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 purchasing an additional 1,022 shares in the last quarter. CVA Family Office LLC grew its stake 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 buying an additional 656 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Regions Financial in the 2nd quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new position in shares of Regions Financial in the 2nd quarter valued at approximately $30,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Regions Financial during the 2nd quarter worth approximately $32,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Trading Up 1.4%

NYSE RF opened at $28.53 on Friday. The company has a market cap of $25.02 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $29.25. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $26.64 and its 200 day moving average is $25.94.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 17th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Cowen reissued a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, Barclays lifted their target price on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.93.

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.