Intellus Advisors LLC Acquires New Position in Regions Financial Co. (NYSE:RF)

Intellus Advisors LLC acquired a new stake in Regions Financial Co. (NYSE:RF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,000 shares of the bank’s stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after buying an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after buying an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC increased its holdings in Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after buying an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Regions Financial by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after purchasing an additional 112,885 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Regions Financial by 0.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after purchasing an additional 61,426 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RF. Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. 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 report on Monday, December 9th. The Goldman Sachs Group upped their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler upped their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup lowered their target price on Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.

Regions Financial Stock Performance

Shares of NYSE RF opened at $21.68 on Friday. The stock has a fifty day moving average price of $23.46 and a two-hundred day moving average price of $23.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $19.63 billion, a P/E ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings results 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. The firm 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 period last year, the company posted $0.39 EPS. Research analysts forecast 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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is currently 51.55%.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 3,993 shares of company stock valued at $89,682. 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.