Caisse de depot et placement du Quebec Invests $20.11 Million in Regions Financial Corporation $RF

Caisse de depot et placement du Quebec bought a new position in Regions Financial Corporation (NYSE:RF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 666,064 shares of the bank’s stock, valued at approximately $20,115,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC raised its holdings in Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after acquiring an additional 1,278 shares during the period. Woodline Partners LP raised its stake in shares of Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after acquiring an additional 22,216 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after buying an additional 511 shares during the period. Federated Hermes Inc. lifted its holdings in Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after buying an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after buying an additional 6,690 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Citigroup upped their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their price target on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. UBS Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Finally, Truist Financial increased their price target on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.24.

Regions Financial Price Performance

Shares of NYSE RF opened at $30.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day moving average is $30.84 and its two-hundred day moving average is $28.81. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The firm has a market capitalization of $25.86 billion, a P/E ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 4.0%. Regions Financial’s payout ratio is 43.27%.

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.