Handelsbanken Fonder AB Has $4.34 Million Stock Position in Regions Financial Corporation $RF

Handelsbanken Fonder AB increased its stake in Regions Financial Corporation (NYSE:RF) by 49.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,112 shares of the bank’s stock after acquiring an additional 52,996 shares during the quarter. Handelsbanken Fonder AB’s holdings in Regions Financial were worth $4,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Darwin Wealth Management LLC bought a new stake in Regions Financial in the second quarter worth approximately $25,000. United Community Bank bought a new stake in Regions Financial in the third quarter worth approximately $30,000. Spire Wealth Management increased its holdings in Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. bought a new stake in Regions Financial in the fourth quarter worth approximately $35,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Morgan Stanley lowered their target price on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Truist Financial reiterated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their price objective on Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Piper Sandler decreased their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus target price of $30.47.

Regions Financial Stock Up 0.6%

RF stock opened at $27.87 on Friday. The stock’s fifty day simple moving average is $26.95 and its two-hundred day simple moving average is $27.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 1-year low of $20.79 and a 1-year high of $31.53. The stock has a market cap of $23.78 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.08 and a beta of 1.02.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Analysts expect that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. Regions Financial’s dividend payout ratio is 44.17%.

Insider Transactions at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

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.