Proffitt & Goodson Inc. Trims Stake in Regions Financial Co. (NYSE:RF)

Proffitt & Goodson Inc. reduced its stake in shares of Regions Financial Co. (NYSE:RF) by 26.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,457 shares of the bank’s stock after selling 1,220 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Regions Financial were worth $81,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP increased its position in shares of Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after buying an additional 394 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Regions Financial by 2.5% in the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock worth $411,000 after acquiring an additional 420 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock worth $581,000 after acquiring an additional 429 shares during the last quarter. Prossimo Advisors LLC boosted its stake in shares of Regions Financial by 2.3% in the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock worth $453,000 after acquiring an additional 430 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in shares of Regions Financial by 1.8% in the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock worth $573,000 after acquiring an additional 436 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RF shares. Barclays lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Piper Sandler lifted their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted 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 target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Compass Point boosted their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Price Performance

Shares of NYSE RF opened at $23.71 on Friday. The stock’s 50-day moving average is $24.06 and its two-hundred day moving average is $24.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share 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 company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Regions Financial’s revenue was up .2% on a year-over-year basis. Analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.22%. Regions Financial’s payout ratio is currently 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.