Regions Financial Co. (NYSE:RF) Shares Sold by Morton Community Bank

Morton Community Bank lessened its holdings in shares of Regions Financial Co. (NYSE:RF) by 3.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 207,614 shares of the bank’s stock after selling 7,308 shares during the period. Regions Financial accounts for approximately 1.3% of Morton Community Bank’s investment portfolio, making the stock its 16th biggest holding. Morton Community Bank’s holdings in Regions Financial were worth $4,883,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its stake in shares of Regions Financial by 10.5% in the 4th quarter. Independent Advisor Alliance now owns 46,810 shares of the bank’s stock valued at $1,101,000 after purchasing an additional 4,429 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Regions Financial by 7.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 119,691 shares of the bank’s stock valued at $2,815,000 after purchasing an additional 8,398 shares during the last quarter. Main Street Research LLC grew its stake in shares of Regions Financial by 2.4% in the 4th quarter. Main Street Research LLC now owns 1,388,068 shares of the bank’s stock valued at $32,989,000 after purchasing an additional 32,362 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Regions Financial by 117.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,068,997 shares of the bank’s stock valued at $25,143,000 after purchasing an additional 576,931 shares during the last quarter. Finally, Argentarii LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at approximately $234,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the topic of several analyst reports. Citigroup lifted their target price on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barclays lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Finally, Piper Sandler lifted 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Trading Up 0.7 %

Shares of NYSE RF opened at $22.10 on Monday. 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 stock’s 50 day moving average price is $23.90 and its two-hundred day moving average price is $24.06. The stock has a market capitalization of $20.01 billion, a P/E ratio of 11.39, a PEG 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.

Regions Financial (NYSE:RF) last announced 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 business had revenue of $1.82 billion for 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%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. On average, analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 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.