Truist Financial Corp Raises Holdings in Regions Financial Co. (NYSE:RF)

Truist Financial Corp grew its holdings in Regions Financial Co. (NYSE:RF) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,509 shares of the bank’s stock after buying an additional 2,860 shares during the quarter. Truist Financial Corp’s holdings in Regions Financial were worth $4,716,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RF. Citigroup Inc. grew its position in 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 buying an additional 253,708 shares during the period. Aprio Wealth Management LLC purchased a new stake in shares of Regions Financial in the 4th quarter worth about $1,247,000. Nordea Investment Management AB raised its position in Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after acquiring an additional 99,115 shares during the last quarter. Commerce Bank increased its stake in shares of Regions Financial by 392.5% during the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after purchasing an additional 197,900 shares in the last quarter. Finally, Vest Financial LLC raised its position in shares of Regions Financial by 20.4% during the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock worth $34,806,000 after purchasing an additional 250,729 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on RF shares. Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Compass Point raised their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Finally, Wells Fargo & Company increased their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Stock Performance

Shares of RF opened at $23.39 on Monday. The firm has a market cap of $21.26 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.93 and a beta of 1.20. The business’s 50 day moving average is $24.11 and its two-hundred day moving average is $23.95. 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 Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

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 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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Regions Financial’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts forecast 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. Shareholders of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.28%. Regions Financial’s dividend payout ratio is currently 51.55%.

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.