iA Global Asset Management Inc. Has $2.43 Million Position in Regions Financial Co. (NYSE:RF)

iA Global Asset Management Inc. boosted its position in shares of Regions Financial Co. (NYSE:RF) by 72.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,178 shares of the bank’s stock after purchasing an additional 43,375 shares during the quarter. iA Global Asset Management Inc.’s holdings in Regions Financial were worth $2,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its holdings in shares of Regions Financial by 96.0% in the fourth quarter. Teacher Retirement System of Texas now owns 423,785 shares of the bank’s stock valued at $9,967,000 after buying an additional 207,595 shares during the period. Royal London Asset Management Ltd. boosted its holdings in shares of Regions Financial by 7.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 354,631 shares of the bank’s stock valued at $8,341,000 after buying an additional 23,323 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of Regions Financial by 415.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 15,767 shares of the bank’s stock valued at $371,000 after buying an additional 12,710 shares during the period. Brooklyn FI LLC acquired a new position in shares of Regions Financial in the fourth quarter valued at approximately $337,000. Finally, Xponance Inc. boosted its holdings in shares of Regions Financial by 12.2% in the fourth quarter. Xponance Inc. now owns 155,558 shares of the bank’s stock valued at $3,659,000 after buying an additional 16,936 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE RF opened at $21.68 on Friday. The business’s 50 day moving average price is $23.46 and its two-hundred day moving average price is $23.94. The company has a market cap of $19.63 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Compass Point upped their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler raised their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Barclays lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Finally, Citigroup lowered their target price on Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.44.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have bought 3,993 shares of company stock valued at $89,682. 0.29% of the stock is owned by insiders.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.