Viking Fund Management LLC Purchases 3,000 Shares of Regions Financial Co. (NYSE:RF)

Viking Fund Management LLC boosted its position in Regions Financial Co. (NYSE:RF) by 100.0% in the 4th quarter, Holdings Channel reports. The firm owned 6,000 shares of the bank’s stock after buying an additional 3,000 shares during the quarter. Viking Fund Management LLC’s holdings in Regions Financial were worth $141,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. American National Bank & Trust grew its holdings in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP boosted its position in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares during the period. Truvestments Capital LLC bought a new position in Regions Financial in the 3rd quarter worth about $37,000. Legacy Investment Solutions LLC purchased a new position in shares of Regions Financial during the third quarter worth approximately $37,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Regions Financial by 163.1% during the third quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,483 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Evercore ISI lifted their price objective on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Barclays increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Truist Financial boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday. Finally, DA Davidson increased their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One equities 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 stock. Based on data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Stock Up 1.9 %

Regions Financial stock opened at $24.65 on Wednesday. The business has a fifty day moving average price of $25.07 and a 200-day moving average price of $23.44. Regions Financial Co. has a 1-year low of $17.42 and a 1-year high of $27.96. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued 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 analyst estimates of $1,857,300 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities research analysts forecast that Regions Financial Co. will post 2.27 EPS for the current fiscal year.

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.