SVB Wealth LLC Takes $881,000 Position in Regions Financial Co. (NYSE:RF)

SVB Wealth LLC acquired a new position in Regions Financial Co. (NYSE:RF) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 37,456 shares of the bank’s stock, valued at approximately $881,000.

Other hedge funds have also bought and sold shares of the company. Fortress Financial Group LLC purchased a new stake in Regions Financial during the 4th quarter valued at $277,000. Private Trust Co. NA grew its holdings in shares of Regions Financial by 10.9% in the fourth quarter. Private Trust Co. NA now owns 6,998 shares of the bank’s stock worth $165,000 after acquiring an additional 689 shares during the period. QRG Capital Management Inc. increased its position in Regions Financial by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 134,794 shares of the bank’s stock valued at $3,170,000 after acquiring an additional 9,355 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Regions Financial in the fourth quarter valued at about $2,393,000. Finally, Kovack Advisors Inc. purchased a new position in Regions Financial in the fourth quarter worth about $205,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RF shares. Wells Fargo & Company upped their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upped their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup upped their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Barclays lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Trading Down 2.5 %

Shares of RF opened at $23.12 on Tuesday. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a 50 day simple moving average of $24.04 and a two-hundred day simple moving average of $24.05. 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 firm has a market cap of $20.93 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20.

Regions Financial (NYSE:RF) last announced its quarterly 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 company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. 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 posted $0.39 EPS. On average, equities analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. Regions Financial’s dividend payout ratio is currently 51.55%.

About Regions Financial

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.