Boston Private Wealth LLC purchased a new stake in Regions Financial Co. (NYSE:RF) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,578 shares of the bank’s stock, valued at approximately $204,000.
Several other hedge funds have also added to or reduced their stakes in the company. Capital Fund Management S.A. boosted its stake in shares of Regions Financial by 241.7% during the second quarter. Capital Fund Management S.A. now owns 238,815 shares of the bank’s stock valued at $4,819,000 after acquiring an additional 168,933 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Regions Financial by 2.5% during the 3rd quarter. New York State Teachers Retirement System now owns 1,358,993 shares of the bank’s stock worth $28,960,000 after purchasing an additional 33,515 shares during the last quarter. MSD Partners L.P. purchased a new stake in shares of Regions Financial during the second quarter worth about $2,053,000. Synovus Financial Corp raised its position in shares of Regions Financial by 4.0% in the third quarter. Synovus Financial Corp now owns 278,042 shares of the bank’s stock valued at $5,921,000 after buying an additional 10,602 shares during the last quarter. Finally, Bridgeworth LLC lifted its stake in shares of Regions Financial by 145.8% during the third quarter. Bridgeworth LLC now owns 79,774 shares of the bank’s stock valued at $1,700,000 after buying an additional 47,316 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.
In other Regions Financial news, EVP Amala Duggirala sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 10th. The shares were sold at an average price of $24.50, for a total value of $612,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.21% of the company’s stock.
NYSE:RF opened at $25.41 on Friday. The firm’s fifty day simple moving average is $23.12 and its 200 day simple moving average is $21.57. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.14. Regions Financial Co. has a twelve month low of $16.89 and a twelve month high of $25.51. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.74 and a beta of 1.43.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, October 21st. The bank reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. Regions Financial had a return on equity of 16.44% and a net margin of 40.43%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts predict that Regions Financial Co. will post 2.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Friday, December 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $0.68 annualized dividend and a yield of 2.68%. Regions Financial’s payout ratio is 25.56%.
Several research analysts have weighed in on RF shares. Barclays upgraded Regions Financial from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a report on Monday, January 3rd. JPMorgan Chase & Co. upped their target price on Regions Financial from $25.50 to $26.50 and gave the company an “overweight” rating in a research note on Thursday, January 6th. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $25.00 to $30.00 in a research note on Tuesday. Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $26.40 to $29.00 in a research note on Monday, October 25th. Finally, Truist raised their target price on shares of Regions Financial from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.66.
Regions Financial Profile
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.
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