Pinnacle Financial Partners Inc Has $3.13 Million Holdings in Regions Financial Co. (NYSE:RF)

Pinnacle Financial Partners Inc decreased its holdings in Regions Financial Co. (NYSE:RF) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,348 shares of the bank’s stock after selling 500 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Regions Financial were worth $3,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in Regions Financial by 16.3% during the third 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. National Bank of Canada FI increased its position in shares of Regions Financial by 575.8% during the 3rd 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 during the last quarter. Allianz Asset Management GmbH increased its position in shares of Regions Financial by 247.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock worth $40,891,000 after purchasing an additional 1,237,538 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 816,226 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Regions Financial during the 3rd quarter worth approximately $17,589,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of NYSE:RF opened at $23.39 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. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The stock’s 50 day moving average is $24.11 and its 200-day moving average is $23.92. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.93 and a beta of 1.20.

Regions Financial (NYSE:RF) last issued its 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. Regions Financial’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS 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. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. 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 payout ratio is 51.55%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. Piper Sandler upped their price objective on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, Citigroup lifted 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.67.

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.