Federated Hermes Inc. Purchases 1,659 Shares of Regions Financial Co. (NYSE:RF)

Federated Hermes Inc. increased its holdings in Regions Financial Co. (NYSE:RF) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,681 shares of the bank’s stock after purchasing an additional 1,659 shares during the quarter. Federated Hermes Inc.’s holdings in Regions Financial were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Advisor Resource Council purchased a new stake in Regions Financial in the 4th quarter worth approximately $1,944,000. Vestmark Advisory Solutions Inc. raised its holdings in shares of Regions Financial by 126.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock valued at $455,000 after acquiring an additional 14,756 shares in the last quarter. LPL Financial LLC lifted its stake in Regions Financial by 19.6% in the third quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock worth $10,019,000 after acquiring an additional 95,271 shares during the period. Vaughan David Investments LLC IL boosted its holdings in Regions Financial by 48.9% in the fourth quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock valued at $47,886,000 after acquiring an additional 811,174 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Regions Financial during the 4th quarter valued at $1,089,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insiders Place Their Bets

In other news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $15.00 to $22.00 in a research report on Tuesday, January 9th. Royal Bank of Canada lifted their price objective on Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods increased their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $23.00 in a report on Monday, March 18th. Finally, Stephens restated an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.34.

Regions Financial Trading Up 0.8 %

Shares of NYSE:RF opened at $19.80 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08. The company has a market cap of $18.19 billion, a P/E ratio of 10.76, a PEG ratio of 1.45 and a beta of 1.21. The stock’s fifty day moving average price is $19.55 and its 200-day moving average price is $18.23.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company posted $0.62 EPS. Regions Financial’s revenue was down 10.5% on a year-over-year basis. Sell-side analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.85%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio is currently 52.17%.

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.