Ieq Capital LLC Cuts Stake in Regions Financial Co. (NYSE:RF)

Ieq Capital LLC reduced its stake in Regions Financial Co. (NYSE:RF - Free Report) by 37.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,499 shares of the bank's stock after selling 13,042 shares during the quarter. Ieq Capital LLC's holdings in Regions Financial were worth $506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RF. Citigroup Inc. grew its position in Regions Financial by 20.0% in the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank's stock worth $35,445,000 after acquiring an additional 253,708 shares during the period. Aprio Wealth Management LLC acquired a new position in shares of Regions Financial in the 4th quarter valued at $1,247,000. Nordea Investment Management AB grew its holdings in shares of Regions Financial by 60.4% during the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank's stock worth $6,220,000 after purchasing an additional 99,115 shares during the period. Commerce Bank raised its holdings in Regions Financial by 392.5% in the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank's stock valued at $5,793,000 after buying an additional 197,900 shares during the period. Finally, Vest Financial LLC raised its holdings in Regions Financial by 20.4% in the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank's stock valued at $34,806,000 after buying an additional 250,729 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of recent analyst reports. Truist Financial lifted 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. Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. The Goldman Sachs Group lifted their price objective on Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Piper Sandler increased their target price on Regions Financial from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. One equities 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.67.

Regions Financial Stock Performance

RF traded up $0.31 on Friday, hitting $23.71. 8,334,005 shares of the company traded hands, compared to its average volume of 7,973,182. The company has a 50 day moving average of $24.06 and a 200-day moving average of $24.02. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The stock has a market capitalization of $21.47 billion, a PE ratio of 12.22, a PEG ratio of 1.93 and a beta of 1.20. 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 (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial's payout ratio is 51.55%.

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.