Hartford Investment Management Co. Reduces Holdings in Regions Financial Co. (NYSE:RF)

Hartford Investment Management Co. lessened its holdings in shares of Regions Financial Co. (NYSE:RF) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,136 shares of the bank’s stock after selling 1,457 shares during the quarter. Hartford Investment Management Co.’s holdings in Regions Financial were worth $1,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB purchased a new position in Regions Financial in the third quarter worth approximately $6,281,000. CWM LLC grew its holdings in shares of Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Regions Financial by 15.0% during the third quarter. Vontobel Holding Ltd. now owns 12,445 shares of the bank’s stock worth $290,000 after acquiring an additional 1,620 shares during the period. Bleakley Financial Group LLC raised its position in Regions Financial by 2.2% in the 3rd quarter. Bleakley Financial Group LLC now owns 35,200 shares of the bank’s stock valued at $821,000 after purchasing an additional 751 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Regions Financial by 46.6% in the 3rd quarter. Blue Trust Inc. now owns 23,194 shares of the bank’s stock valued at $541,000 after buying an additional 7,378 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 1.1 %

Shares of NYSE:RF opened at $24.32 on Friday. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. 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’s 50-day simple moving average is $24.27 and its 200-day simple moving average is $23.80. The company has a market cap of $22.10 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.97 and a beta of 1.20.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion for 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%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, equities research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.11%. Regions Financial’s payout ratio is currently 51.55%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Morgan Stanley restated an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Truist Financial lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. Finally, Wedbush upped their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.