AlphaQuest LLC Sells 124,565 Shares of Regions Financial Co. (NYSE:RF)

AlphaQuest LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 82.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,306 shares of the bank’s stock after selling 124,565 shares during the period. AlphaQuest LLC’s holdings in Regions Financial were worth $642,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. State Street Corp increased its position in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Regions Financial by 5.0% during 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 acquiring an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC increased its position in Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after acquiring an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 acquiring an additional 112,885 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in 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 acquiring an additional 61,426 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RF. Citigroup boosted their price objective on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Wells Fargo & Company boosted their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler boosted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. One 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. According to MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Down 2.3 %

NYSE:RF opened at $21.03 on Wednesday. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The company has a 50-day moving average of $23.81 and a 200 day moving average of $24.05. The firm has a market cap of $19.04 billion, a PE ratio of 10.84, 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 current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio 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.