Zurcher Kantonalbank Zurich Cantonalbank Has $6.78 Million Holdings in Regions Financial Corporation $RF

Key Points

• Zurcher Kantonalbank cut its stake in Regions Financial by 34.4% in Q4, selling 131,069 shares and now owning 250,061 shares valued at about $6.78 million per its latest 13F filing.
• Regions reported $0.62 EPS for the quarter, beating estimates by $0.01 while revenue of $1.87 billion missed expectations, and analysts expect 2.61 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.265 (annualized $1.06) to be paid July 1 with a record/ex-dividend date of June 1, implying a yield of about 3.8%.

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 34.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,061 shares of the bank's stock after selling 131,069 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Regions Financial were worth $6,777,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Regions Financial by 52.9% during the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank's stock worth $357,417,000 after purchasing an additional 4,679,285 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Regions Financial by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank's stock worth $241,289,000 after buying an additional 233,458 shares during the last quarter. Barclays PLC raised its stake in Regions Financial by 12.4% during the third quarter. Barclays PLC now owns 6,254,555 shares of the bank's stock worth $164,933,000 after buying an additional 689,313 shares during the last quarter. Legal & General Group Plc raised its stake in Regions Financial by 1.6% during the third quarter. Legal & General Group Plc now owns 5,805,951 shares of the bank's stock worth $153,103,000 after buying an additional 93,389 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Regions Financial by 85.9% during the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank's stock worth $121,976,000 after buying an additional 2,137,062 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Down 2.2%

NYSE:RF opened at $27.79 on Friday. 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 stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.11 and a beta of 1.03. The firm has a fifty day simple moving average of $27.25 and a two-hundred day simple moving average of $26.85. Regions Financial Corporation has a 12 month low of $19.93 and a 12 month high of $31.53.

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

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio (DPR) is presently 44.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RF. Truist Financial reissued a "hold" rating and set a $30.00 target price on shares of Regions Financial in a research note on Tuesday. The Goldman Sachs Group reissued a "buy" rating and set a $32.00 target price on shares of Regions Financial in a research note on Tuesday, January 6th. Barclays lifted their target price on shares of Regions Financial from $27.00 to $30.00 and gave the stock an "underweight" rating in a research note on Monday, January 5th. Brean Capital began coverage on shares of Regions Financial in a research note on Thursday, March 12th. They set a "neutral" rating for the company. Finally, Morgan Stanley lowered 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 research 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. According to MarketBeat, Regions Financial has a consensus rating of "Hold" and an average target price of $30.12.

Regions Financial Company Profile

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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