Regions Financial Co. (NYSE:RF) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in shares of Regions Financial Co. (NYSE:RF) by 33.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 820,546 shares of the bank’s stock after buying an additional 204,215 shares during the period. Canada Pension Plan Investment Board owned about 0.09% of Regions Financial worth $16,444,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. IFG Advisory LLC grew its position in shares of Regions Financial by 1.8% during the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after buying an additional 546 shares in the last quarter. HB Wealth Management LLC grew its holdings in Regions Financial by 0.6% during the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after acquiring an additional 551 shares in the last quarter. CWM LLC increased its position in shares of Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Regions Financial by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC lifted its position in shares of Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after purchasing an additional 584 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Performance

Shares of RF stock opened at $22.91 on Tuesday. The stock’s 50-day moving average price is $22.12 and its 200 day moving average price is $20.45. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $20.98 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $23.47.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

Analyst Ratings Changes

RF has been the topic of several recent analyst reports. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Royal Bank of Canada raised their target price on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Bank of America upped their price target on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Truist Financial raised their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.69.

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.