Main Street Research LLC Purchases 32,362 Shares of Regions Financial Co. (NYSE:RF)

Main Street Research LLC grew its position in shares of Regions Financial Co. (NYSE:RF) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,388,068 shares of the bank’s stock after buying an additional 32,362 shares during the quarter. Regions Financial accounts for 2.1% of Main Street Research LLC’s portfolio, making the stock its 25th largest position. Main Street Research LLC’s holdings in Regions Financial were worth $32,989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Regions Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock worth $203,273,000 after purchasing an additional 112,885 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Regions Financial by 0.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after purchasing an additional 61,426 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Compass Point boosted their price target on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler increased their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Citigroup boosted their target price 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Price Performance

NYSE:RF opened at $22.10 on Monday. The business’s 50-day simple moving average is $23.90 and its two-hundred day simple moving average is $24.06. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The stock has a market cap of $20.01 billion, a PE ratio of 11.39, a P/E/G ratio of 1.93 and a beta of 1.19. 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 issued its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $0.39 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 4.53%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

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.