Horizon Investments LLC Decreases Stake in Regions Financial Corporation $RF

Key Points

• Horizon Investments LLC reduced its stake in Regions Financial (NYSE:RF) by 20.0%, selling 82,601 shares and retaining 330,940 shares worth about $8.97 million at quarter-end.
• Regions beat EPS expectations with $0.62 for the quarter (vs. $0.61 consensus) but missed revenue estimates at $1.87B; analysts' consensus rating is a Hold with an average target of $30.12.
• The bank declared a quarterly dividend of $0.265 ($1.06 annualized), a ~3.8% yield, with an ex-dividend date of June 1 and payment on July 1.

Horizon Investments LLC reduced its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 20.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 330,940 shares of the bank's stock after selling 82,601 shares during the period. Horizon Investments LLC's holdings in Regions Financial were worth $8,968,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in RF. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the 2nd quarter worth $25,000. United Community Bank purchased a new stake in shares of Regions Financial during the 3rd quarter worth $30,000. Salomon & Ludwin LLC purchased a new stake in shares of Regions Financial during the 3rd quarter worth $32,000. Spire Wealth Management boosted its position in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock worth $32,000 after purchasing an additional 557 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its position in Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock worth $32,000 after purchasing an additional 854 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 1.2%

RF opened at $28.21 on Friday. The business's fifty day moving average is $27.13 and its two-hundred day moving average is $26.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.10 and a beta of 1.02. Regions Financial Corporation has a one year low of $20.55 and a one year high of $31.53.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio is currently 44.17%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RF shares. JPMorgan Chase & Co. decreased their target price on Regions Financial from $31.50 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. The Goldman Sachs Group reiterated a "buy" rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. UBS Group reiterated a "neutral" rating and set a $30.00 target price on shares of Regions Financial in a research report on Wednesday, February 4th. Barclays boosted their target price on Regions Financial from $27.00 to $30.00 and gave the stock an "underweight" rating in a research report on Monday, January 5th. Finally, Wells Fargo & Company downgraded Regions Financial from an "equal weight" rating to an "underweight" rating and set a $30.00 target price on the stock. in a research report on Friday, January 16th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Regions Financial currently has an average rating of "Hold" and a consensus target price of $30.12.

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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