Van ECK Associates Corp Sells 1,053 Shares of Regions Financial Co. (NYSE:RF)

Van ECK Associates Corp decreased its position in Regions Financial Co. (NYSE:RF) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,668 shares of the bank’s stock after selling 1,053 shares during the quarter. Van ECK Associates Corp’s holdings in Regions Financial were worth $862,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its position in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Regions Financial in the third quarter worth about $37,000. Legacy Investment Solutions LLC purchased a new stake in shares of Regions Financial in the third quarter worth about $37,000. Quarry LP lifted its holdings in shares of Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after buying an additional 394 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Regions Financial in the third quarter worth about $56,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 2.8 %

Shares of NYSE RF opened at $23.39 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The firm’s fifty day moving average is $24.15 and its 200 day moving average is $23.88. The company has a market cap of $21.26 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.96 and a beta of 1.20.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RF shares. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Compass Point increased their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and an average target price of $27.67.

About Regions Financial

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.