Regions Financial Corporation $RF Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its position in shares of Regions Financial Corporation (NYSE:RF) by 54.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,163 shares of the bank’s stock after purchasing an additional 32,528 shares during the quarter. Vinva Investment Management Ltd’s holdings in Regions Financial were worth $2,442,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Regions Financial by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock worth $740,511,000 after buying an additional 391,568 shares in the last quarter. Geode Capital Management LLC boosted its stake in Regions Financial by 0.5% during the second quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock valued at $557,370,000 after buying an additional 109,549 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Regions Financial by 52.9% during the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after buying an additional 4,679,285 shares in the last quarter. Norges Bank bought a new position in Regions Financial during the second quarter valued at about $246,790,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after acquiring an additional 233,458 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $31.00 price objective on shares of Regions Financial in a research note on Tuesday, January 20th. Evercore downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Finally, Truist Financial raised their target price on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.97.

Insider Activity

In other news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president owned 17,569 shares in the company, valued at $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Regions Financial Stock Performance

Regions Financial stock opened at $26.97 on Tuesday. The firm’s 50 day simple moving average is $28.67 and its 200-day simple moving average is $26.91. The company has a market cap of $23.29 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Regions Financial declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About Regions Financial

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.