Alberta Investment Management Corp Buys Shares of 303,200 Regions Financial Corp (NYSE:RF)

Alberta Investment Management Corp bought a new stake in Regions Financial Corp (NYSE:RF) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 303,200 shares of the bank’s stock, valued at approximately $2,720,000.

Other large investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI lifted its stake in Regions Financial by 203.1% in the first quarter. Citizens Financial Group Inc RI now owns 3,528 shares of the bank’s stock valued at $32,000 after buying an additional 2,364 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Regions Financial by 77.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,432 shares of the bank’s stock worth $42,000 after acquiring an additional 1,061 shares in the last quarter. Samalin Investment Counsel LLC bought a new stake in shares of Regions Financial in the fourth quarter worth about $45,000. Mcmillion Capital Management Inc. bought a new stake in shares of Regions Financial in the fourth quarter worth about $46,000. Finally, Tobias Financial Advisors Inc. bought a new stake in shares of Regions Financial in the fourth quarter worth about $48,000. 70.95% of the stock is currently owned by hedge funds and other institutional investors.

In other Regions Financial news, Director Jose S. Suquet acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $9.88 per share, with a total value of $98,800.00. Following the completion of the transaction, the director now directly owns 41,527 shares in the company, valued at approximately $410,286.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jose S. Suquet acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $10.21 per share, with a total value of $51,050.00. Following the completion of the transaction, the director now owns 41,527 shares of the company’s stock, valued at $423,990.67. The disclosure for this purchase can be found here. 0.47% of the stock is owned by company insiders.

RF has been the subject of several recent analyst reports. UBS Group increased their price target on Regions Financial from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Monday, May 4th. Compass Point lowered their price target on Regions Financial from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group restated a “buy” rating and issued a $11.00 price target on shares of Regions Financial in a report on Thursday. Wells Fargo & Co lowered their price target on Regions Financial from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Finally, Nomura Securities decreased their price objective on Regions Financial from $17.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Regions Financial currently has an average rating of “Hold” and an average target price of $13.80.

RF stock opened at $9.95 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $9.73 and a two-hundred day moving average price of $13.89. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 7.47, a P/E/G ratio of 2.48 and a beta of 1.69. Regions Financial Corp has a twelve month low of $6.94 and a twelve month high of $17.54.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 20.35% and a return on equity of 9.09%. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities research analysts anticipate that Regions Financial Corp will post 0.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.62 dividend on an annualized basis and a yield of 6.23%. Regions Financial’s dividend payout ratio is 40.00%.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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