Prospera Financial Services Inc trimmed its stake in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 39.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,694 shares of the bank’s stock after selling 6,362 shares during the period. Prospera Financial Services Inc’s holdings in Regions Financial were worth $209,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. CI Investments Inc. lifted its stake in Regions Financial by 991.2% in the 3rd quarter. CI Investments Inc. now owns 1,244 shares of the bank’s stock worth $25,000 after acquiring an additional 1,130 shares in the last quarter. MCF Advisors LLC lifted its stake in Regions Financial by 2,210.5% in the 4th quarter. MCF Advisors LLC now owns 1,317 shares of the bank’s stock worth $28,000 after acquiring an additional 1,260 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Regions Financial in the 4th quarter worth about $43,000. RE Dickinson Investment Advisors LLC purchased a new stake in Regions Financial in the 4th quarter worth about $44,000. Finally, Western Pacific Wealth Management LP lifted its stake in Regions Financial by 88.7% in the 4th quarter. Western Pacific Wealth Management LP now owns 2,146 shares of the bank’s stock worth $46,000 after acquiring an additional 1,009 shares in the last quarter. 72.87% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Truist Financial downgraded Regions Financial from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $21.00 to $20.00 in a research note on Monday, April 24th. Barclays cut their price target on Regions Financial from $29.00 to $23.00 in a research note on Wednesday, April 12th. JPMorgan Chase & Co. cut their price target on Regions Financial from $26.00 to $23.00 in a research note on Monday, April 10th. Citigroup cut their price target on Regions Financial from $25.00 to $20.00 in a research note on Friday, April 21st. Finally, Piper Sandler cut their price target on Regions Financial from $27.50 to $25.00 in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus target price of $23.50.
Regions Financial Stock Performance
Regions Financial (NYSE:RF – Get Rating) last released its earnings results on Friday, April 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Regions Financial had a net margin of 28.61% and a return on equity of 16.60%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. On average, equities analysts forecast that Regions Financial Co. will post 2.39 earnings per share for the current year.
Regions Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Thursday, June 1st. Regions Financial’s dividend payout ratio (DPR) is currently 34.19%.
About Regions Financial
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.
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