Allworth Financial LP Purchases 683 Shares of Regions Financial Co. (NYSE:RF)

Allworth Financial LP increased its position in Regions Financial Co. (NYSE:RF) by 36.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,560 shares of the bank’s stock after acquiring an additional 683 shares during the quarter. Allworth Financial LP’s holdings in Regions Financial were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Quarry LP increased its position in shares of Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the last quarter. Ballentine Partners LLC raised its position in Regions Financial by 2.5% in the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock worth $411,000 after acquiring an additional 420 shares during the period. Private Advisor Group LLC raised its position in Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock worth $581,000 after acquiring an additional 429 shares during the period. Greenleaf Trust boosted its stake in shares of Regions Financial by 1.8% during the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock worth $573,000 after acquiring an additional 436 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in shares of Regions Financial by 0.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 70,822 shares of the bank’s stock valued at $1,666,000 after acquiring an additional 529 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 0.2 %

Shares of NYSE:RF opened at $23.44 on Tuesday. The company has a 50-day moving average price of $24.08 and a 200 day moving average price of $23.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a market cap of $21.30 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.93 and a beta of 1.20.

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

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 4.27%. Regions Financial’s payout ratio is 51.55%.

Analyst Upgrades and Downgrades

RF has been the topic of several analyst reports. Piper Sandler lifted their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Barclays raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Wells Fargo & Company raised their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, Citigroup upped their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has an average 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.