Regions Financial Co. (NYSE:RF) Stake Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in Regions Financial Co. (NYSE:RF) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,663 shares of the bank’s stock after selling 25,397 shares during the quarter. State of Alaska Department of Revenue’s holdings in Regions Financial were worth $2,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RF. Citigroup Inc. boosted its position in Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after acquiring an additional 253,708 shares during the period. Aprio Wealth Management LLC acquired a new stake in Regions Financial during the 4th quarter worth about $1,247,000. Nordea Investment Management AB boosted its position in Regions Financial by 60.4% during the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after acquiring an additional 99,115 shares during the period. Commerce Bank lifted its holdings in shares of Regions Financial by 392.5% during the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after buying an additional 197,900 shares during the last quarter. Finally, National Pension Service lifted its holdings in shares of Regions Financial by 6.3% during the 3rd quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after buying an additional 102,380 shares during the last quarter. 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 issued reports on the company. The Goldman Sachs Group lifted their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Citigroup lifted their price target on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wedbush lifted their price target on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. 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 stock. According to data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Stock Performance

RF opened at $24.09 on Tuesday. The stock has a market cap of $21.89 billion, a PE ratio of 12.42, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 1 year low of $17.61 and a 1 year high of $27.96. The stock’s 50 day simple moving average is $24.45 and its 200-day simple moving average is $23.77.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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 business had revenue of $1.82 billion for 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%. Regions Financial’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. Sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

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.