BankPlus Trust Department Makes New $544,000 Investment in Regions Financial Co. (NYSE:RF)

BankPlus Trust Department purchased a new position in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,148 shares of the bank’s stock, valued at approximately $544,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in RF. State Street Corp lifted its stake in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares during the last quarter. National Bank of Canada FI lifted its position in Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Regions Financial by 247.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock valued at $40,891,000 after purchasing an additional 1,237,538 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Regions Financial in the third quarter worth $17,589,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial upped their price target on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. 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 research note on Tuesday, November 26th. Barclays boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Piper Sandler raised their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Trading Down 2.8 %

Shares of NYSE:RF opened at $23.39 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The business has a 50 day moving average of $24.11 and a two-hundred day moving average of $23.95. The company has a market capitalization of $21.26 billion, a PE ratio of 12.06, a PEG ratio of 1.93 and a beta of 1.20.

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

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued 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 dividend yield of 4.28%. Regions Financial’s payout ratio is currently 51.55%.

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.