Nisa Investment Advisors LLC Purchases 59,175 Shares of Regions Financial Corporation $RF

Nisa Investment Advisors LLC grew its position in Regions Financial Corporation (NYSE:RF) by 19.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 364,263 shares of the bank’s stock after buying an additional 59,175 shares during the period. Nisa Investment Advisors LLC’s holdings in Regions Financial were worth $9,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Ramiah Investment Group bought a new position in Regions Financial in the third quarter valued at about $521,000. Kingswood Wealth Advisors LLC acquired a new position in Regions Financial during the 3rd quarter valued at about $217,000. Benjamin Edwards Inc. lifted its position in Regions Financial by 6.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 406,001 shares of the bank’s stock valued at $10,706,000 after purchasing an additional 23,533 shares during the period. SG Americas Securities LLC boosted its stake in shares of Regions Financial by 30.0% in the 3rd quarter. SG Americas Securities LLC now owns 68,404 shares of the bank’s stock valued at $1,804,000 after purchasing an additional 15,768 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in shares of Regions Financial by 15.2% during the 3rd quarter. HB Wealth Management LLC now owns 107,254 shares of the bank’s stock worth $2,828,000 after buying an additional 14,178 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF stock opened at $28.52 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $29.25. The firm has a fifty day moving average of $26.33 and a 200-day moving average of $25.82. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The firm had revenue of $1.81 billion for the quarter. On average, equities research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $0.265 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. Regions Financial’s payout ratio is currently 46.70%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RF. Evercore ISI lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $27.00 to $29.00 in a report on Tuesday. Citigroup upped their target price on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Stephens restated an “equal weight” rating and issued a $27.00 price target (down from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Truist Financial lifted their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Finally, Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.93.

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.