Main Street Research LLC Raises Stock Position in Regions Financial Co. (NYSE:RF)

Main Street Research LLC boosted its position in Regions Financial Co. (NYSE:RF) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,388,068 shares of the bank’s stock after purchasing an additional 32,362 shares during the quarter. Regions Financial comprises 2.1% of Main Street Research LLC’s investment portfolio, making the stock its 25th biggest position. Main Street Research LLC owned about 0.15% of Regions Financial worth $32,989,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Regions Financial by 117.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,068,997 shares of the bank’s stock worth $25,143,000 after buying an additional 576,931 shares in the last quarter. Argentarii LLC purchased a new stake in shares of Regions Financial in the 4th quarter valued at about $234,000. Dorsey & Whitney Trust CO LLC boosted its position in shares of Regions Financial by 4.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 20,290 shares of the bank’s stock valued at $477,000 after acquiring an additional 934 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Regions Financial by 20.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,316 shares of the bank’s stock valued at $86,000 after acquiring an additional 567 shares during the last quarter. Finally, Machina Capital S.A.S. purchased a new position in shares of Regions Financial during the fourth quarter worth about $495,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of RF stock opened at $22.10 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.93 and a beta of 1.19. The business’s fifty day moving average is $23.90 and its 200 day moving average is $24.06. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last issued 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 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 last year, the business earned $0.39 EPS. Regions Financial’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.53%. Regions Financial’s payout ratio is 51.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RF shares. Piper Sandler lifted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped 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. Finally, Citigroup raised their price objective on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One 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 company’s stock. According to MarketBeat.com, Regions Financial currently has a consensus 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.