101,748 Shares in Regions Financial Co. (NYSE:RF) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 101,748 shares of the bank’s stock, valued at approximately $2,393,000.

A number of other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings 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 buying an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after acquiring an additional 1,396,647 shares during the period. Geode Capital Management LLC grew its holdings in shares of Regions Financial by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after acquiring an additional 315,605 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after buying an additional 112,885 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Regions Financial by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after buying an additional 61,426 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have acquired 4,523 shares of company stock valued at $102,269. 0.29% of the stock is owned by corporate insiders.

Regions Financial Price Performance

NYSE:RF opened at $21.48 on Wednesday. The firm has a market capitalization of $19.44 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The stock has a fifty day moving average of $23.57 and a 200 day moving average of $23.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84.

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

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.66%. Regions Financial’s dividend payout ratio is currently 51.55%.

Analysts Set New Price Targets

Several research analysts recently weighed in on RF shares. Piper Sandler increased their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Barclays raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Compass Point boosted their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

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.