Alberta Investment Management Corp Acquires 61,700 Shares of Regions Financial Co. (NYSE:RF)

Alberta Investment Management Corp grew its holdings in Regions Financial Co. (NYSE:RF) by 61.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,900 shares of the bank’s stock after acquiring an additional 61,700 shares during the period. Alberta Investment Management Corp’s holdings in Regions Financial were worth $3,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RF. AMF Tjanstepension AB bought a new position in shares of Regions Financial during the third quarter worth $6,281,000. Sequoia Financial Advisors LLC lifted its stake in Regions Financial by 2.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock worth $473,000 after purchasing an additional 545 shares in the last quarter. Signaturefd LLC lifted its stake in Regions Financial by 2.6% in the 3rd quarter. Signaturefd LLC now owns 24,073 shares of the bank’s stock worth $562,000 after purchasing an additional 601 shares in the last quarter. Eastern Bank bought a new position in shares of Regions Financial during the 3rd quarter valued at about $81,000. Finally, Private Advisor Group LLC grew its position in shares of Regions Financial by 1.8% during the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RF. Citigroup boosted their target price on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a report on Tuesday, October 29th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Finally, Piper Sandler increased their price objective 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Price Performance

RF stock opened at $24.06 on Friday. The stock has a market cap of $21.86 billion, a PE ratio of 12.40, a P/E/G ratio of 1.97 and a beta of 1.20. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a 50-day moving average price of $24.15 and a 200 day moving average price of $23.88. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Regions Financial Company Profile

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.