Salem Investment Counselors Inc. Has $78,000 Stock Holdings in Regions Financial Co. (NYSE:RF)

Salem Investment Counselors Inc. lowered its holdings in Regions Financial Co. (NYSE:RF) by 65.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,263 shares of the bank’s stock after selling 6,098 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Regions Financial were worth $78,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RF. American National Bank & Trust grew its stake in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares during the last quarter. Quarry LP boosted its holdings in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the period. Truvestments Capital LLC acquired a new stake in Regions Financial in the 3rd quarter worth $37,000. Legacy Investment Solutions LLC bought a new position in shares of Regions Financial during the 3rd quarter worth about $37,000. Finally, Benjamin Edwards Inc. lifted its stake in shares of Regions Financial by 47.0% in the second quarter. Benjamin Edwards Inc. now owns 2,027 shares of the bank’s stock valued at $41,000 after buying an additional 648 shares during the period. 79.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RF. Citigroup boosted their price target on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial upgraded Regions Financial to a “hold” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $27.00 to $28.00 in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Regions Financial has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Up 1.7 %

Shares of NYSE:RF opened at $24.01 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm has a market cap of $21.82 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.61 and a beta of 1.21. Regions Financial Co. has a 12 month low of $17.42 and a 12 month high of $27.96. The company’s 50-day moving average price is $25.19 and its two-hundred day moving average price is $23.32.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.49 earnings per share. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, research analysts forecast that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

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.