Regions Financial Co. (NYSE:RF) Stock Position Lifted by Welch Group LLC

Welch Group LLC boosted its stake in Regions Financial Co. (NYSE:RF) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,279 shares of the bank’s stock after buying an additional 714 shares during the quarter. Welch Group LLC’s holdings in Regions Financial were worth $3,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Citigroup Inc. raised its holdings in shares of Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after acquiring an additional 253,708 shares in the last quarter. Aprio Wealth Management LLC purchased a new stake in shares of Regions Financial during the 4th quarter worth about $1,247,000. Nordea Investment Management AB raised its stake in shares of Regions Financial by 60.4% during the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after purchasing an additional 99,115 shares in the last quarter. Commerce Bank grew its stake in shares of Regions Financial by 392.5% in the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after buying an additional 197,900 shares in the last quarter. Finally, National Pension Service grew its stake in shares of Regions Financial by 6.3% in the 3rd quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after buying an additional 102,380 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $24.07 on Tuesday. The stock has a market cap of $21.87 billion, a PE ratio of 12.40, a P/E/G ratio of 1.97 and a beta of 1.20. Regions Financial Co. has a 1 year low of $17.42 and a 1 year high of $27.96. The stock’s 50 day simple moving average is $24.74 and its 200-day simple moving average is $23.69. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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 company had revenue of $1.82 billion during 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. Sell-side analysts forecast that Regions Financial Co. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of analyst reports. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. DA Davidson raised their target price on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler boosted their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Company 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.