Howard Capital Management Inc. Has $456,000 Position in Regions Financial Co. (NYSE:RF)

Howard Capital Management Inc. lifted its holdings in Regions Financial Co. (NYSE:RF) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,404 shares of the bank’s stock after purchasing an additional 1,880 shares during the period. Howard Capital Management Inc.’s holdings in Regions Financial were worth $456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of 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 purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Regions Financial by 575.8% in the 3rd 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 lifted its stake in shares of Regions Financial by 247.0% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Regions Financial in the 3rd quarter valued at $17,589,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RF. Piper Sandler boosted 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. Barclays boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Citigroup boosted their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research report on Tuesday, October 29th. Finally, Truist Financial boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Stock Performance

NYSE RF opened at $23.44 on Tuesday. The stock has a market cap of $21.30 billion, a P/E ratio of 12.08, a PEG ratio of 1.93 and a beta of 1.20. The company’s 50-day simple moving average is $24.08 and its 200 day simple moving average is $23.96. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating 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 net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts forecast that Regions Financial Co. will post 2.26 earnings per share 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 $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 4.27%. Regions Financial’s dividend payout ratio (DPR) is presently 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.