Sierra Ocean LLC Takes Position in Regions Financial Co. (NYSE:RF)

Sierra Ocean LLC purchased a new stake in shares of Regions Financial Co. (NYSE:RF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,169 shares of the bank’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP lifted 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 purchasing an additional 394 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Regions Financial by 2.5% in the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after purchasing an additional 420 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Regions Financial by 1.8% in the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Regions Financial by 1.8% in the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after purchasing an additional 436 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of Regions Financial by 0.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 70,822 shares of the bank’s stock valued at $1,666,000 after purchasing an additional 529 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

NYSE RF opened at $24.63 on Wednesday. The stock 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’s 50-day simple moving average is $24.20 and its 200 day simple moving average is $23.85. Regions Financial Co. has a twelve month low of $17.72 and a twelve month 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.

Regions Financial (NYSE:RF) last posted 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 business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’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 earnings per share. As a group, research analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.06%. Regions Financial’s dividend payout ratio is 51.55%.

Analyst Upgrades and Downgrades

RF has been the subject of a number of research analyst reports. Compass Point boosted their target price on shares of 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 raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Truist Financial boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Finally, Citigroup boosted their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 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. Based on data from MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

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.