Regions Financial Co. (NYSE:RF) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC increased its position in shares of Regions Financial Co. (NYSE:RF) by 2.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,173 shares of the bank’s stock after buying an additional 436 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Regions Financial were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Regions Financial by 16.3% during the 3rd 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 period. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after buying an additional 816,226 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after buying an additional 315,605 shares during the period. 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 worth $203,273,000 after buying an additional 112,885 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Regions Financial by 0.8% in the 3rd 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 period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $23.38 on Friday. The stock has a fifty day moving average price of $24.06 and a 200 day moving average price of $23.97. 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 stock has a market cap of $21.17 billion, a PE ratio of 12.05, a P/E/G ratio of 1.93 and a beta of 1.20. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RF shares. Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Piper Sandler increased their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. 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 note on Tuesday, January 21st. Wells Fargo & Company raised their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $27.00 to $28.00 in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

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.