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

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Regions Financial Corporation (NYSE:RF) by 34.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,061 shares of the bank’s stock after selling 131,069 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Regions Financial were worth $6,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RF. Darwin Wealth Management LLC bought a new stake in shares of Regions Financial during the second quarter worth about $25,000. United Community Bank bought a new stake in shares of Regions Financial during the third quarter worth about $30,000. Salomon & Ludwin LLC bought a new stake in shares of Regions Financial during the third quarter worth about $32,000. Spire Wealth Management increased its position in shares of 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 acquiring an additional 557 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its position in shares of 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 acquiring an additional 854 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RF has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group reissued a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a research report on Wednesday, February 4th. Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a research report on Friday, January 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Finally, Piper Sandler decreased their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 30th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.12.

Regions Financial Stock Down 2.2%

Regions Financial stock opened at $27.79 on Friday. Regions Financial Corporation has a fifty-two week low of $19.93 and a fifty-two week high of $31.53. The stock has a market cap of $23.99 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.11 and a beta of 1.03. The firm’s 50-day simple moving average is $27.25 and its 200 day simple moving average is $26.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts predict that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. The ex-dividend date is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.8%. Regions Financial’s payout ratio is 44.17%.

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.