Everence Capital Management Inc. Reduces Holdings in Regions Financial Co. (NYSE:RF)

Everence Capital Management Inc. reduced its position in Regions Financial Co. (NYSE:RF) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 40,460 shares of the bank’s stock after selling 3,430 shares during the period. Everence Capital Management Inc.’s holdings in Regions Financial were worth $952,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after buying an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after buying an additional 1,014,706 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after acquiring an additional 979,597 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after acquiring an additional 816,226 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

Regions Financial stock opened at $23.62 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $25.20 and its 200 day simple moving average is $23.04. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96. The firm has a market capitalization of $21.47 billion, a PE ratio of 13.34, a P/E/G ratio of 2.64 and a beta of 1.21.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Wall Street Analysts Forecast Growth

RF has been the topic of several analyst reports. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, October 24th. Barclays boosted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research note on Tuesday, October 29th. DA Davidson boosted their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Evercore ISI increased their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.61.

Regions Financial Profile

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