State of Alaska Department of Revenue Has $2.44 Million Stake in Regions Financial Co. (NYSE:RF)

State of Alaska Department of Revenue decreased its stake in Regions Financial Co. (NYSE:RF) by 19.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Citigroup Inc. boosted its stake in Regions Financial by 20.0% in the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after buying an additional 253,708 shares in the last quarter. Aprio Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter valued at $1,247,000. Nordea Investment Management AB boosted its stake in Regions Financial by 60.4% in the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after buying an additional 99,115 shares in the last quarter. Commerce Bank boosted its stake in Regions Financial by 392.5% in the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after purchasing an additional 197,900 shares in the last quarter. Finally, National Pension Service boosted its stake in Regions Financial by 6.3% in the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after purchasing an additional 102,380 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 1.5 %

RF stock opened at $24.09 on Tuesday. 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 $21.89 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.97 and a beta of 1.20. The business has a 50-day moving average of $24.45 and a 200-day moving average of $23.77. Regions Financial Co. has a fifty-two week low of $17.61 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion during 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 revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on RF. 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 note on Tuesday, December 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, October 24th. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. Finally, Wedbush upped their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

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.