Richard P Slaughter Associates Inc Lowers Position in Regions Financial Co. (NYSE:RF)

Richard P Slaughter Associates Inc reduced its position in Regions Financial Co. (NYSE:RF) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,908 shares of the bank’s stock after selling 1,306 shares during the period. Richard P Slaughter Associates Inc’s holdings in Regions Financial were worth $2,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. National Bank of Canada FI boosted its position in Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after buying an additional 979,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after buying an additional 816,226 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 1.7 %

RF stock opened at $24.01 on Wednesday. Regions Financial Co. has a one year low of $17.42 and a one year high of $27.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50 day moving average price is $25.19 and its 200-day moving average price is $23.32. The firm has a market cap of $21.82 billion, a PE ratio of 13.57, a PEG ratio of 2.61 and a beta of 1.21.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. On average, equities research analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group lifted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wedbush raised their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Evercore ISI boosted their price objective on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

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.