Catalyst Capital Advisors LLC Has $51,000 Position in Regions Financial Co. (NYSE:RF)

Catalyst Capital Advisors LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 43.5% during the fourth quarter, Holdings Channel reports. The fund owned 2,177 shares of the bank’s stock after selling 1,678 shares during the period. Catalyst Capital Advisors LLC’s holdings in Regions Financial were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RF. State Street Corp lifted its stake in shares of Regions Financial by 16.3% during the 3rd 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 raised its holdings in Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after acquiring an additional 1,452,956 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 3.0% during the third 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 last quarter. Point72 Asset Management L.P. bought a new stake in shares of Regions Financial during the third quarter worth approximately $17,589,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Regions Financial by 2,309.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 653,963 shares of the bank’s stock valued at $15,381,000 after purchasing an additional 626,820 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of several research reports. Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Barclays increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Finally, Piper Sandler lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One equities research 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Trading Up 1.3 %

RF opened at $24.63 on Wednesday. The company has a market cap of $22.38 billion, a P/E ratio of 12.69, a PEG ratio of 1.97 and a beta of 1.20. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $24.20 and its 200-day moving average is $23.85. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Equities research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 4.06%. Regions Financial’s payout ratio is presently 51.55%.

Regions Financial 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.