Private Advisor Group LLC Decreases Stock Holdings in Regions Financial Co. (NYSE:RF)

Private Advisor Group LLC trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 23.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,156 shares of the bank’s stock after selling 5,772 shares during the quarter. Private Advisor Group LLC’s holdings in Regions Financial were worth $451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Y.D. More Investments Ltd grew its holdings 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 valued at $27,000 after purchasing an additional 634 shares during the period. Sierra Ocean LLC bought a new position in Regions Financial during the fourth quarter valued at $28,000. Truvestments Capital LLC bought a new position in Regions Financial during the third quarter valued at $37,000. Legacy Investment Solutions LLC bought a new position in Regions Financial during the third quarter valued at $37,000. Finally, Quarry LP grew its holdings in Regions Financial by 29.5% during the third 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. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

NYSE:RF opened at $23.12 on Tuesday. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 11.92, a P/E/G 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 stock has a fifty day moving average of $24.04 and a 200 day moving average of $24.05. 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 posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. On average, research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.33%. Regions Financial’s payout ratio is 51.55%.

Analyst Ratings Changes

RF has been the subject of several research reports. Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Truist Financial increased their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Piper Sandler increased their price objective on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. 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. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

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.