Horizon Investments LLC Trims Stock Holdings in Regions Financial Corporation $RF

Horizon Investments LLC reduced its stake in Regions Financial Corporation (NYSE:RF) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,940 shares of the bank’s stock after selling 82,601 shares during the quarter. Horizon Investments LLC’s holdings in Regions Financial were worth $8,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC increased its stake in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares during the last quarter. Woodline Partners LP increased its stake in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 22,216 shares during the last quarter. Baird Financial Group Inc. increased its stake in Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after purchasing an additional 511 shares during the last quarter. Federated Hermes Inc. increased its stake in Regions Financial by 81.2% in the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after purchasing an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Regions Financial by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after purchasing an additional 6,690 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Tuesday, January 6th. Piper Sandler dropped their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. JPMorgan Chase & Co. dropped their target price on Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Truist Financial reiterated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.12.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $28.21 on Friday. The firm has a market capitalization of $24.36 billion, a PE ratio of 11.75, a P/E/G ratio of 1.10 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average of $27.13 and a two-hundred day moving average of $26.96. Regions Financial Corporation has a 12 month low of $20.55 and a 12 month high of $31.53.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. As a group, research analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.265 per share. The ex-dividend date is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.8%. Regions Financial’s dividend payout ratio is currently 44.17%.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.