Grimes & Company Inc. Increases Stock Position in Regions Financial Co. (NYSE:RF)

Grimes & Company Inc. lifted its stake in Regions Financial Co. (NYSE:RF) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 962,900 shares of the bank’s stock after purchasing an additional 16,345 shares during the period. Grimes & Company Inc.’s holdings in Regions Financial were worth $22,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in shares of Regions Financial by 4.4% in the second quarter. Pacer Advisors Inc. now owns 67,078 shares of the bank’s stock worth $1,344,000 after buying an additional 2,837 shares during the last quarter. Sei Investments Co. increased its position in Regions Financial by 11.0% in the second quarter. Sei Investments Co. now owns 523,033 shares of the bank’s stock worth $10,480,000 after purchasing an additional 51,811 shares during the last quarter. ProShare Advisors LLC increased its position in Regions Financial by 3.7% during the second quarter. ProShare Advisors LLC now owns 194,833 shares of the bank’s stock valued at $3,904,000 after acquiring an additional 6,914 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Regions Financial by 5.9% during the second quarter. Public Sector Pension Investment Board now owns 155,107 shares of the bank’s stock valued at $3,108,000 after purchasing an additional 8,581 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Regions Financial during the second quarter valued at $581,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on RF. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, October 24th. DA Davidson increased their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial upped their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 29th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Stock Up 0.9 %

RF opened at $24.48 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a market cap of $22.25 billion, a P/E ratio of 12.62, a PEG ratio of 1.94 and a beta of 1.21. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96. The business’s fifty day simple moving average is $24.93 and its 200 day simple moving average is $23.52.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1,857,300 billion. During the same quarter last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Regions Financial Co. will post 2.27 EPS for the current fiscal year.

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.