Rockland Trust Co. Buys New Shares in Regions Financial Co. (NYSE:RF)

Rockland Trust Co. purchased a new position in Regions Financial Co. (NYSE:RF) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 55,424 shares of the bank’s stock, valued at approximately $1,304,000.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp increased its position in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. National Bank of Canada FI boosted its stake 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 worth $39,784,000 after purchasing an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC grew its position in Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $24.01 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $25.19 and its two-hundred day moving average price is $23.32. The firm has a market capitalization of $21.82 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.61 and a beta of 1.21. Regions Financial Co. has a 12-month low of $17.42 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. On average, equities analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on RF. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Compass Point raised their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Piper Sandler raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, DA Davidson upped their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average 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.