66,735 Shares in Regions Financial Corporation $RF Purchased by GAM Holding AG

GAM Holding AG purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 66,735 shares of the bank’s stock, valued at approximately $1,760,000.

Several other institutional investors also recently modified their holdings of RF. Commerzbank Aktiengesellschaft FI increased its position in shares of Regions Financial by 34.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after purchasing an additional 15,820 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Regions Financial by 3.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock worth $216,866,000 after purchasing an additional 325,382 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Regions Financial by 4.9% during the second quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock worth $9,913,000 after purchasing an additional 19,579 shares during the period. Foster Victor Wealth Advisors LLC lifted its holdings in Regions Financial by 3.7% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 315,402 shares of the bank’s stock worth $7,768,000 after buying an additional 11,391 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in Regions Financial by 89.4% in the second quarter. Osaic Holdings Inc. now owns 244,610 shares of the bank’s stock worth $5,510,000 after acquiring an additional 115,458 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RF has been the topic of several research reports. Stephens reaffirmed an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Truist Financial boosted their price objective on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Cantor Fitzgerald started coverage on Regions Financial in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average target price of $28.21.

Regions Financial Trading Up 1.7%

Shares of RF stock opened at $27.56 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.12 and a beta of 1.03. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.98. The stock’s 50-day moving average price is $25.89 and its 200-day moving average price is $25.60.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. Equities research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial declared that its board has approved a stock buyback plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to reacquire up to 12.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, December 1st. Regions Financial’s payout ratio is currently 46.70%.

About Regions Financial

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.