Oakworth Capital Inc. Raises Holdings in Regions Financial Co. (NYSE:RF)

Oakworth Capital Inc. raised its holdings in shares of Regions Financial Co. (NYSE:RF) by 216.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,414 shares of the bank’s stock after purchasing an additional 133,049 shares during the period. Regions Financial makes up about 0.3% of Oakworth Capital Inc.’s investment portfolio, making the stock its 29th largest holding. Oakworth Capital Inc.’s holdings in Regions Financial were worth $3,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new position in shares of Regions Financial in the 1st quarter worth $26,000. Sound Income Strategies LLC boosted its stake in shares of Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Regions Financial in the 3rd quarter worth $26,000. Harbour Investments Inc. boosted its stake in shares of Regions Financial by 715.1% in the 4th quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock worth $41,000 after buying an additional 1,659 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in shares of Regions Financial by 2,000.0% in the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock worth $36,000 after buying an additional 2,000 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RF has been the topic of several analyst reports. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada lifted their target price on Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Truist Financial lifted their target price on Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, April 1st. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods raised their price target on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.39.

Regions Financial Trading Up 0.1 %

NYSE RF traded up $0.02 during trading hours on Wednesday, hitting $18.83. 5,521,435 shares of the company were exchanged, compared to its average volume of 8,546,937. The stock has a 50-day moving average price of $19.25 and a 200 day moving average price of $17.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The stock has a market cap of $17.30 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 19th. The bank reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. The company’s revenue was down 9.5% compared to the same quarter last year. Analysts forecast that Regions Financial Co. will post 1.98 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 5.10%. Regions Financial’s dividend payout ratio (DPR) is presently 45.93%.

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.