Norges Bank Invests $254.56 Million in Regions Financial Corporation $RF

Norges Bank bought a new position in shares of Regions Financial Corporation (NYSE:RF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,393,493 shares of the bank’s stock, valued at approximately $254,564,000. Norges Bank owned about 1.07% of Regions Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the second quarter worth about $25,000. United Community Bank purchased a new stake in shares of Regions Financial during the third quarter worth about $30,000. Spire Wealth Management increased its position in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after acquiring an additional 557 shares during the last quarter. Princeton Global Asset Management LLC increased its position in shares of Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after acquiring an additional 854 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Regions Financial during the fourth quarter worth about $33,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 2.5%

NYSE:RF opened at $28.03 on Wednesday. The company has a market capitalization of $23.92 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. Regions Financial Corporation has a one year low of $21.00 and a one year high of $31.53. The stock has a 50-day simple moving average of $27.27 and a 200 day simple moving average of $27.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

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

Regions Financial Announces Dividend

The company 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. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is 44.17%.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley dropped their target price on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. Royal Bank Of Canada lifted their price target on Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Truist Financial reiterated a “hold” rating and issued a $30.00 price target on shares of Regions Financial in a research note on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.47.

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.