Greenwood Capital Associates LLC Grows Position in Regions Financial Co. (NYSE:RF)

Greenwood Capital Associates LLC lifted its position in shares of Regions Financial Co. (NYSE:RF) by 42.2% during the first quarter, Holdings Channel.com reports. The firm owned 71,973 shares of the bank’s stock after acquiring an additional 21,353 shares during the period. Greenwood Capital Associates LLC’s holdings in Regions Financial were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new position in Regions Financial in the fourth quarter valued at $28,000. Picton Mahoney Asset Management grew its position in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at about $32,000. Creative Capital Management Investments LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at about $44,000. Finally, Allworth Financial LP raised its holdings in Regions Financial by 36.4% in the 4th quarter. Allworth Financial LP now owns 2,560 shares of the bank’s stock worth $62,000 after purchasing an additional 683 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Down 0.3%

NYSE RF opened at $22.28 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $20.03 billion, a P/E ratio of 11.49, a PEG ratio of 1.93 and a beta of 0.96. The firm’s 50-day moving average is $20.79 and its two-hundred day moving average is $22.74. Regions Financial Co. has a 12 month low of $17.74 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same period in the previous year, the firm earned $0.37 EPS. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial’s payout ratio is 48.08%.

Wall Street Analyst Weigh In

Several analysts have commented on RF shares. Wells Fargo & Company dropped their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. The Goldman Sachs Group dropped their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Truist Financial reiterated a “hold” rating on shares of Regions Financial in a research report on Friday, May 23rd. Morgan Stanley lowered their price objective on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Finally, Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.80.

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.