Nomura Holdings Inc. Acquires New Position in Regions Financial Co. (NYSE:RF)

Nomura Holdings Inc. acquired a new stake in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 66,496 shares of the bank’s stock, valued at approximately $1,289,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC raised its stake in Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after acquiring an additional 649 shares during the period. ICA Group Wealth Management LLC bought a new stake in Regions Financial in the 4th quarter valued at about $28,000. Sound Income Strategies LLC raised its stake in Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after acquiring an additional 750 shares during the period. Glassman Wealth Services raised its stake in Regions Financial by 163.3% in the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after acquiring an additional 967 shares during the period. Finally, West Paces Advisors Inc. grew its holdings in Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after buying an additional 1,752 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Up 0.4 %

Shares of RF opened at $18.98 on Thursday. The firm has a market cap of $17.38 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.07 and a beta of 1.19. The stock has a 50 day simple moving average of $19.27 and a two-hundred day simple moving average of $19.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts forecast that Regions Financial Co. will post 1.96 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 5.06%. Regions Financial’s payout ratio is currently 52.17%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore ISI lifted their target price on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Truist Financial reduced their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a report on Monday, March 18th. Piper Sandler lifted their target price on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods lifted their target price on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.34.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were acquired at an average price of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

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.