Bruce G. Allen Investments LLC Acquires 678 Shares of Regions Financial Co. (NYSE:RF)

Bruce G. Allen Investments LLC raised its stake in shares of Regions Financial Co. (NYSE:RF) by 28.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,070 shares of the bank’s stock after buying an additional 678 shares during the period. Bruce G. Allen Investments LLC’s holdings in Regions Financial were worth $72,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Regions Financial during the 2nd quarter worth approximately $320,000. Caprock Group LLC grew its stake in Regions Financial by 37.9% in the 2nd quarter. Caprock Group LLC now owns 18,266 shares of the bank’s stock worth $371,000 after buying an additional 5,020 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Regions Financial by 20.7% during the 2nd quarter. Ballentine Partners LLC now owns 15,337 shares of the bank’s stock valued at $307,000 after purchasing an additional 2,631 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in Regions Financial by 13.9% in the second quarter. Ashton Thomas Private Wealth LLC now owns 23,540 shares of the bank’s stock worth $472,000 after purchasing an additional 2,871 shares during the last quarter. Finally, Choreo LLC purchased a new stake in shares of Regions Financial during the second quarter valued at approximately $624,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Compass Point boosted their price target on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Piper Sandler lifted their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup increased their price target 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 given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Price Performance

Shares of RF stock traded down $0.76 during mid-day trading on Friday, hitting $23.06. The company had a trading volume of 4,216,999 shares, compared to its average volume of 7,728,582. The stock’s 50 day moving average price is $25.18 and its 200-day moving average price is $23.17. Regions Financial Co. has a 52-week low of $17.42 and a 52-week high of $27.96. The company has a market capitalization of $20.96 billion, a P/E ratio of 13.03, a P/E/G ratio of 2.61 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. Equities research analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.34%. Regions Financial’s dividend payout ratio is presently 56.50%.

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.