Sage Mountain Advisors LLC Sells 2,628 Shares of Regions Financial Co. (NYSE:RF)

Sage Mountain Advisors LLC lowered its stake in shares of Regions Financial Co. (NYSE:RF) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,908 shares of the bank’s stock after selling 2,628 shares during the period. Sage Mountain Advisors LLC’s holdings in Regions Financial were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings 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 valued at $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Regions Financial by 575.8% during 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 purchasing an additional 1,452,956 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after purchasing an additional 1,396,647 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Regions Financial during the 4th quarter valued at about $31,480,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Regions Financial by 247.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock valued at $40,891,000 after purchasing an additional 1,237,538 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RF shares. Piper Sandler lifted their price objective on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price target 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. Truist Financial boosted their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Finally, Compass Point boosted their price target on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.56.

Regions Financial Stock Performance

Shares of NYSE RF opened at $21.09 on Thursday. The stock has a 50 day moving average of $23.76 and a 200-day moving average of $24.03. The company has a market capitalization of $19.09 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. 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 released 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 business had revenue of $1.82 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $0.39 EPS. As a group, equities research analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.74%. 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.