Viking Fund Management LLC Acquires 3,000 Shares of Regions Financial Co. (NYSE:RF)

Viking Fund Management LLC grew its holdings in shares of Regions Financial Co. (NYSE:RF) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the bank’s stock after acquiring an additional 3,000 shares during the period. Viking Fund Management LLC’s holdings in Regions Financial were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its holdings in Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after buying an additional 816,226 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after acquiring an additional 315,605 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after acquiring an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Regions Financial by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after acquiring an additional 61,426 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Up 1.9 %

Shares of NYSE RF opened at $24.65 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12-month low of $17.42 and a 12-month high of $27.96. The firm’s 50-day moving average price is $25.07 and its 200-day moving average price is $23.44. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 2.31 and a beta of 1.21.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,857,300 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities research analysts anticipate that Regions Financial Co. will post 2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RF has been the subject of a number of recent analyst reports. DA Davidson upped their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Citigroup increased their target price on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Evercore ISI boosted their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Company Profile

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.