Convergence Investment Partners LLC Grows Position in Regions Financial Co. (NYSE:RF)

Convergence Investment Partners LLC boosted its stake in shares of Regions Financial Co. (NYSE:RF) by 65.9% during the 4th quarter, according to the company in its most recent filing with the Securities and 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 reporting period.

Several other large investors also recently bought and sold shares of the stock. Citigroup Inc. raised its stake in shares of Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after buying an additional 253,708 shares during the last quarter. Aprio Wealth Management LLC purchased a new position in shares of Regions Financial during the 4th quarter valued at about $1,247,000. Nordea Investment Management AB raised its stake 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 valued at $6,220,000 after buying an additional 99,115 shares during the last quarter. Commerce Bank raised its stake in shares of Regions Financial by 392.5% during 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 last quarter. Finally, Vest Financial LLC raised its stake in shares of Regions Financial by 20.4% during 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 last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RF. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. Piper Sandler lifted their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group lifted their price target 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, Compass Point lifted their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Up 1.3 %

RF stock opened at $24.63 on Wednesday. The firm has a market cap of $22.38 billion, a PE ratio of 12.69, a PEG ratio of 1.97 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. The firm’s 50 day moving average price is $24.20 and its 200-day moving average price is $23.85. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is presently 51.55%.

Regions Financial Company 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.