Patten & Patten Inc. TN Has $1.99 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Patten & Patten Inc. TN lowered its holdings in shares of Regions Financial Co. (NYSE:RF) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,439 shares of the bank’s stock after selling 4,425 shares during the period. Patten & Patten Inc. TN’s holdings in Regions Financial were worth $1,986,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP increased its stake in Regions Financial by 29.5% in 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 in the last quarter. Ballentine Partners LLC increased its position in Regions Financial by 2.5% in the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after buying an additional 420 shares in the last quarter. Prossimo Advisors LLC raised its stake in Regions Financial by 2.3% during the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock worth $453,000 after buying an additional 430 shares during the period. Greenleaf Trust raised its stake in 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 buying an additional 436 shares during the period. Finally, Lake Street Advisors Group LLC boosted its holdings in Regions Financial by 2.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock worth $456,000 after acquiring an additional 436 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Trading Up 2.9 %

Shares of RF opened at $21.45 on Friday. The business has a 50-day moving average of $23.67 and a 200 day moving average of $24.00. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The firm has a market cap of $19.42 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. 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 earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. As a group, research analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

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 paid 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 yield of 4.66%. Regions Financial’s dividend payout ratio is 51.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RF shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. The Goldman Sachs Group upped their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Citigroup dropped their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial lifted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Finally, Compass Point lifted their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.56.

Insider Activity

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

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.