QRG Capital Management Inc. Grows Holdings in Regions Financial Co. (NYSE:RF)

QRG Capital Management Inc. lifted its stake in Regions Financial Co. (NYSE:RF) by 7.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 134,794 shares of the bank’s stock after acquiring an additional 9,355 shares during the quarter. QRG Capital Management Inc.’s holdings in Regions Financial were worth $3,170,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Citigroup Inc. increased its stake in Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after purchasing an additional 253,708 shares during the period. Aprio Wealth Management LLC acquired a new position in shares of Regions Financial in the fourth quarter valued at approximately $1,247,000. Nordea Investment Management AB increased its stake 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 buying an additional 99,115 shares during the period. Commerce Bank lifted its holdings in Regions Financial by 392.5% during the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after buying an additional 197,900 shares in the last quarter. Finally, Vest Financial LLC boosted its position in Regions Financial by 20.4% in the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock valued at $34,806,000 after buying an additional 250,729 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the topic of a number of recent research reports. Piper Sandler upped their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial upped their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Barclays lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Morgan Stanley restated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Wells Fargo & Company lifted their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Stock Performance

Shares of RF stock opened at $23.71 on Friday. The stock’s 50-day moving average is $24.06 and its two-hundred day moving average is $24.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.93 and a beta of 1.20.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) 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 the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.39 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.22%. Regions Financial’s payout ratio is 51.55%.

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.