Regions Financial Co. (NYSE:RF) Stock Holdings Cut by Morton Community Bank

Morton Community Bank cut its stake in shares of Regions Financial Co. (NYSE:RF) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 207,614 shares of the bank’s stock after selling 7,308 shares during the quarter. Regions Financial comprises 1.3% of Morton Community Bank’s holdings, making the stock its 16th biggest position. Morton Community Bank’s holdings in Regions Financial were worth $4,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Y.D. More Investments Ltd lifted its holdings 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 valued at $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Regions Financial during the fourth quarter worth $28,000. Truvestments Capital LLC purchased a new stake in shares of Regions Financial during the third quarter worth $37,000. Legacy Investment Solutions LLC purchased a new stake in shares of Regions Financial during the third quarter worth $37,000. Finally, Quarry LP raised its holdings in shares of Regions Financial by 29.5% during the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after acquiring an additional 394 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Up 0.7 %

RF stock opened at $22.10 on Monday. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The company has a market cap of $20.01 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The business’s 50-day simple moving average is $23.90 and its 200 day simple moving average is $24.06. 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) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. Regions Financial’s quarterly revenue was up .2% compared to the same quarter last year. On average, research 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 51.55%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Citigroup increased their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. The Goldman Sachs Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley restated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Truist Financial raised their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.67.

About Regions Financial

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.