Principal Securities Inc. Grows Stock Holdings in Regions Financial Co. (NYSE:RF)

Principal Securities Inc. lifted its stake in shares of Regions Financial Co. (NYSE:RF) by 34.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,675 shares of the bank’s stock after purchasing an additional 1,964 shares during the period. Principal Securities Inc.’s holdings in Regions Financial were worth $181,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Y.D. More Investments Ltd increased its position in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $37,000. Legacy Investment Solutions LLC acquired a new stake in shares of Regions Financial during the 3rd quarter worth approximately $37,000. Quarry LP raised its position in shares of Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after buying an additional 394 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Regions Financial in the third quarter valued at approximately $56,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Tuesday, October 29th. Finally, Citigroup upped their price target on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Price Performance

Shares of NYSE:RF opened at $23.44 on Tuesday. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The firm has a market capitalization of $21.30 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company’s fifty day moving average price is $24.08 and its 200 day moving average price is $23.96.

Regions Financial (NYSE:RF) last announced 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. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. As a group, sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced 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 4.27%. Regions Financial’s payout ratio is 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.