Proffitt & Goodson Inc. Reduces Position in Regions Financial Co. (NYSE:RF)

Proffitt & Goodson Inc. trimmed its position in Regions Financial Co. (NYSE:RF) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,457 shares of the bank’s stock after selling 1,220 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Regions Financial were worth $81,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RF. State Street Corp increased its position in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of 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 increased its position in shares of 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. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 1.3 %

NYSE RF opened at $23.71 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $21.47 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.93 and a beta of 1.20. The stock has a 50 day moving average price of $24.06 and a 200-day moving average price of $24.00. Regions Financial Co. has a one year low of $17.72 and a one year 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 for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.39 earnings per share. As a group, equities analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Truist Financial increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Citigroup increased their price target 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. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price target (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.67.

About Regions Financial

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.