Allworth Financial LP Buys 683 Shares of Regions Financial Co. (NYSE:RF)

Allworth Financial LP grew its holdings in shares of Regions Financial Co. (NYSE:RF) by 36.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,560 shares of the bank’s stock after buying an additional 683 shares during the quarter. Allworth Financial LP’s holdings in Regions Financial were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP grew its stake in Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the period. Ballentine Partners LLC raised its stake in shares of Regions Financial by 2.5% in the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after buying an additional 420 shares during the period. Private Advisor Group LLC lifted its position in shares of Regions Financial by 1.8% during the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after buying an additional 429 shares during the last quarter. Greenleaf Trust grew its stake in shares of Regions Financial by 1.8% during the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock worth $573,000 after acquiring an additional 436 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its holdings in Regions Financial by 0.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 70,822 shares of the bank’s stock worth $1,666,000 after acquiring an additional 529 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup upped their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Piper Sandler increased their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Finally, Truist Financial upped 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Up 0.2 %

Shares of NYSE RF opened at $23.44 on Tuesday. The company has a market cap of $21.30 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.93 and a beta of 1.20. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average is $24.08 and its 200 day moving average is $23.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business 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 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. Regions Financial’s dividend payout ratio is currently 51.55%.

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.