Evergreen Capital Management LLC Invests $1.94 Million in Regions Financial Corporation $RF

Key Points

• Evergreen Capital Management bought a new position of 71,514 shares in Regions Financial in Q4, valued at approximately $1.94 million, contributing to institutional ownership of about 79.39%.
• Analysts' consensus is a Hold with an average target of $30.12 (7 Buy, 9 Hold, 3 Sell); recent changes include DA Davidson raising its target to $32 while JPMorgan cut its target to $29.
• Regions slightly beat EPS estimates ($0.62 vs. $0.61), reported 5% year-over-year revenue growth, and declared a quarterly dividend of $0.265 (annualized $1.06) for a 3.8% yield.

Evergreen Capital Management LLC purchased a new position in Regions Financial Corporation (NYSE:RF - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 71,514 shares of the bank's stock, valued at approximately $1,939,000.

Several other hedge funds have also recently modified their holdings of the business. Greystone Financial Group LLC raised its stake in shares of Regions Financial by 20.3% in the fourth quarter. Greystone Financial Group LLC now owns 384,767 shares of the bank's stock worth $10,427,000 after purchasing an additional 65,020 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Regions Financial by 22.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,098 shares of the bank's stock worth $111,000 after purchasing an additional 764 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new position in shares of Regions Financial in the fourth quarter worth $42,929,000. Summit Wealth Partners LLC purchased a new position in shares of Regions Financial in the fourth quarter worth $203,000. Finally, Elevated Capital Advisors LLC purchased a new position in shares of Regions Financial in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

RF has been the subject of several recent analyst reports. UBS Group restated a "neutral" rating and issued a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Truist Financial restated a "hold" rating and issued a $30.00 price target on shares of Regions Financial in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. DA Davidson boosted their target price on shares of Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Monday. Finally, Morgan Stanley decreased their target price on shares of Regions Financial from $37.00 to $34.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.12.

Regions Financial Price Performance

Shares of RF opened at $28.18 on Thursday. The firm has a market cap of $24.33 billion, a PE ratio of 11.74, a P/E/G ratio of 1.11 and a beta of 1.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $26.83. Regions Financial Corporation has a 1-year low of $19.83 and a 1-year high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial's dividend payout ratio is currently 44.17%.

About Regions Financial

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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