Regions Financial Co. (NYSE:RF) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Regions Financial Co. (NYSE:RF) by 117.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,068,997 shares of the bank’s stock after buying an additional 576,931 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regions Financial were worth $25,143,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its holdings in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the fourth quarter worth about $28,000. Truvestments Capital LLC bought a new stake in shares of Regions Financial during the 3rd quarter worth about $37,000. Legacy Investment Solutions LLC acquired a new position in shares of Regions Financial during the 3rd quarter valued at about $37,000. Finally, Quarry LP raised its stake in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RF. Wells Fargo & Company upped their target price on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Compass Point upped their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Barclays boosted 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 raised their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Performance

RF opened at $21.03 on Wednesday. The stock has a market cap of $19.04 billion, a PE ratio of 10.84, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The stock’s 50 day simple moving average is $23.81 and its 200-day simple moving average is $24.05. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.76%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 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.