Bahl & Gaynor Inc. Lowers Stock Holdings in Regions Financial Co. (NYSE:RF)

Bahl & Gaynor Inc. decreased its stake in Regions Financial Co. (NYSE:RF - Free Report) by 37.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,080 shares of the bank's stock after selling 104,255 shares during the quarter. Bahl & Gaynor Inc.'s holdings in Regions Financial were worth $4,071,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd raised its holdings in Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after purchasing an additional 634 shares during the period. Sierra Ocean LLC acquired a new position in shares of Regions Financial during the fourth quarter valued at approximately $28,000. Truvestments Capital LLC acquired a new position in shares of Regions Financial during the third quarter valued at approximately $37,000. Legacy Investment Solutions LLC acquired a new position in shares of Regions Financial during the third quarter valued at approximately $37,000. Finally, Quarry LP raised its holdings in shares of Regions Financial by 29.5% during the third quarter. Quarry LP now owns 1,729 shares of the bank's stock valued at $40,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 0.7 %

Shares of NYSE RF traded up $0.15 during mid-day trading on Friday, hitting $22.10. The company had a trading volume of 10,446,555 shares, compared to its average volume of 7,439,689. The company has a market capitalization of $20.01 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The business's 50-day simple moving average is $23.90 and its 200 day simple moving average is $24.03.

Remove Ads

Regions Financial (NYSE:RF - Get Free Report) 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 business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the firm earned $0.39 earnings per share. The company's revenue for the quarter was up .2% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is currently 51.55%.

Analyst Upgrades and Downgrades

RF has been the subject of a number of research analyst reports. Truist Financial increased their target price on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their target price on Regions Financial from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. The Goldman Sachs Group upped their price target on Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Morgan Stanley restated 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. Finally, Citigroup upped their price target on Regions Financial from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Regions Financial presently 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.