Sage Investment Counsel LLC Acquires New Shares in Regions Financial Co. (NYSE:RF)

Sage Investment Counsel LLC acquired a new stake in shares of Regions Financial Co. (NYSE:RF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,389 shares of the bank’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RF. Y.D. More Investments Ltd boosted its position in Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after acquiring an additional 634 shares during the period. Sierra Ocean LLC acquired a new position in Regions Financial during the 4th quarter worth $28,000. Truvestments Capital LLC acquired a new position in Regions Financial during the 3rd quarter worth $37,000. Legacy Investment Solutions LLC acquired a new position in Regions Financial during the 3rd quarter worth $37,000. Finally, Quarry LP boosted its position in Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after acquiring an additional 394 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RF shares. Wells Fargo & Company boosted their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Compass Point upped their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Truist Financial upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Stock Up 1.3 %

Shares of Regions Financial stock opened at $23.71 on Friday. The stock’s fifty day moving average is $24.06 and its 200-day moving average is $24.00. The firm has a market capitalization of $21.47 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. 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 Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

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, topping analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. Regions Financial’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. Equities analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.22%. The ex-dividend date is Monday, March 3rd. 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.