Mackenzie Financial Corp Trims Position in Regions Financial Co. (NYSE:RF)

Mackenzie Financial Corp lessened its position in shares of Regions Financial Co. (NYSE:RF) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 110,340 shares of the bank’s stock after selling 8,032 shares during the quarter. Mackenzie Financial Corp’s holdings in Regions Financial were worth $2,138,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RF. Mn Services Vermogensbeheer B.V. increased its position in Regions Financial by 0.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 448,505 shares of the bank’s stock worth $8,692,000 after buying an additional 3,300 shares in the last quarter. Capital Advisors Inc. OK purchased a new stake in Regions Financial in the fourth quarter worth about $1,940,000. Louisiana State Employees Retirement System purchased a new stake in Regions Financial in the fourth quarter worth about $1,089,000. Koshinski Asset Management Inc. purchased a new stake in Regions Financial in the fourth quarter worth about $565,000. Finally, Vaughan David Investments LLC IL increased its position in Regions Financial by 48.9% in the fourth quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock worth $47,886,000 after buying an additional 811,174 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RF. Stephens reiterated an “equal weight” rating and set a $21.00 target price on shares of Regions Financial in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods increased their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Truist Financial cut their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday. Morgan Stanley cut their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Argus cut Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average target price of $20.17.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $19.34 on Wednesday. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day moving average price of $19.36 and a 200-day moving average price of $18.05. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. Equities analysts expect that Regions Financial Co. will post 1.97 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

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.