BankPlus Trust Department Invests $544,000 in Regions Financial Co. (NYSE:RF)

BankPlus Trust Department acquired a new position in Regions Financial Co. (NYSE:RF) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,148 shares of the bank’s stock, valued at approximately $544,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd lifted its stake in shares of Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after purchasing an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new position in Regions Financial in the fourth quarter valued at about $28,000. Truvestments Capital LLC purchased a new position in Regions Financial during the third quarter worth about $37,000. Legacy Investment Solutions LLC acquired a new stake in shares of Regions Financial during the third quarter valued at about $37,000. Finally, Quarry LP lifted its holdings in shares of Regions Financial by 29.5% in the 3rd 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 currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 2.8 %

Regions Financial stock opened at $23.39 on Monday. The company has a market capitalization of $21.26 billion, a P/E ratio of 12.06, a PEG ratio of 1.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The stock has a 50-day simple moving average of $24.11 and a 200-day simple moving average of $23.95.

Regions Financial (NYSE:RF) last issued its quarterly earnings data 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. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. Equities research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is currently 51.55%.

Analyst Ratings Changes

Several research firms recently weighed in on RF. The Goldman Sachs Group lifted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. Truist Financial increased their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. Piper Sandler lifted their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus 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.