Fortress Financial Group LLC Buys Shares of 11,947 Regions Financial Co. (NYSE:RF)

Fortress Financial Group LLC purchased a new position in shares of Regions Financial Co. (NYSE:RF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,947 shares of the bank’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its holdings in 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 buying an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Geode Capital Management LLC lifted its stake in Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Regions Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock worth $203,273,000 after purchasing an additional 112,885 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Regions Financial by 0.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after purchasing an additional 61,426 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RF. Barclays raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Citigroup raised their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Compass Point boosted their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Truist Financial raised their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $28.00 in a research note on Thursday, October 31st. One equities research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Stock Performance

RF opened at $23.38 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a market cap of $21.17 billion, a PE ratio of 12.05, a P/E/G ratio of 1.93 and a beta of 1.20. The business has a fifty day simple moving average of $24.06 and a 200-day simple moving average of $23.97. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business posted $0.39 EPS. Regions Financial’s revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 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.