Highland Capital Management LLC Sells 1,000 Shares of Regions Financial Co. (NYSE:RF)

Highland Capital Management LLC trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,500 shares of the bank’s stock after selling 1,000 shares during the quarter. Highland Capital Management LLC’s holdings in Regions Financial were worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in Regions Financial in the 4th quarter worth approximately $201,607,000. First Trust Advisors LP lifted its stake in shares of Regions Financial by 296.5% in the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock valued at $234,902,000 after purchasing an additional 7,891,037 shares during the period. Wellington Management Group LLP lifted its stake in shares of Regions Financial by 8.4% in the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after purchasing an additional 4,160,768 shares during the period. Bahl & Gaynor Inc. increased its position in Regions Financial by 162.1% during the 3rd quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock valued at $101,559,000 after buying an additional 3,651,390 shares in the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in Regions Financial during the 2nd quarter valued at approximately $56,804,000. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RF shares. Royal Bank of Canada raised their price objective on Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Truist Financial raised their price objective on Regions Financial from $15.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, December 15th. Barclays reaffirmed an “underweight” rating and set a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Keefe, Bruyette & Woods lifted their target price on Regions Financial from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.23.

Regions Financial Stock Performance

Shares of RF opened at $20.69 on Thursday. The firm has a market capitalization of $19.01 billion, a P/E ratio of 9.90, a PEG ratio of 1.44 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average of $18.88 and a 200 day moving average of $17.71. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.02.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 19th. The bank reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. Regions Financial’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Co. will post 1.98 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 4.64%. Regions Financial’s dividend payout ratio (DPR) is presently 45.93%.

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.