Patten Group Inc. Sells 3,886 Shares of Regions Financial Co. (NYSE:RF)

Patten Group Inc. lowered its holdings in shares of Regions Financial Co. (NYSE:RF) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,188 shares of the bank’s stock after selling 3,886 shares during the period. Patten Group Inc.’s holdings in Regions Financial were worth $1,604,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Y.D. More Investments Ltd raised its holdings in Regions Financial by 122.9% during the 4th 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 during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth $28,000. Truvestments Capital LLC bought a new position in Regions Financial during the third quarter worth $37,000. Legacy Investment Solutions LLC acquired a new position in Regions Financial in the third quarter valued at $37,000. Finally, Quarry LP boosted its position in Regions Financial by 29.5% during the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RF. The Goldman Sachs Group lifted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Compass Point boosted their price target on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays raised their price objective 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. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Finally, Truist Financial raised their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Stock Performance

NYSE RF opened at $23.12 on Tuesday. The company has a fifty day moving average price of $24.04 and a 200-day moving average price of $24.05. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.33%. Regions Financial’s dividend payout ratio (DPR) is currently 51.55%.

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.