Convergence Investment Partners LLC Acquires 29,344 Shares of Regions Financial Co. (NYSE:RF)

Convergence Investment Partners LLC boosted its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 65.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,904 shares of the bank's stock after purchasing an additional 29,344 shares during the period. Convergence Investment Partners LLC's holdings in Regions Financial were worth $1,738,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd raised its stake in shares of Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Regions Financial in the fourth quarter worth about $28,000. Truvestments Capital LLC bought a new position in shares of Regions Financial in the third quarter worth about $37,000. Legacy Investment Solutions LLC bought a new position in shares of Regions Financial in the third quarter worth about $37,000. Finally, Quarry LP raised its stake in shares of Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank's stock worth $40,000 after acquiring an additional 394 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Down 2.8 %

NYSE RF traded down $0.67 during trading on Friday, reaching $23.39. 9,066,371 shares of the stock traded hands, compared to its average volume of 6,679,576. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The stock's 50-day moving average price is $24.11 and its 200 day moving average price is $23.92. The firm has a market cap of $21.26 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20.

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

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Monday, March 3rd. Regions Financial's payout ratio is currently 51.55%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. Compass Point lifted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Truist Financial lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a research report on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Regions Financial has a consensus rating of "Moderate Buy" and an average target price 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.