Regions Financial Co. (NYSE:RF) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in Regions Financial Co. (NYSE:RF) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,200 shares of the bank’s stock after buying an additional 751 shares during the period. Bleakley Financial Group LLC’s holdings in Regions Financial were worth $821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after buying an additional 979,597 shares during the last quarter. Cincinnati Insurance Co. acquired a new stake in Regions Financial during the first quarter worth about $74,606,000. Victory Capital Management Inc. increased its position in Regions Financial by 17.1% during the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock worth $59,421,000 after purchasing an additional 433,319 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Regions Financial by 6.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,822,420 shares of the bank’s stock worth $59,384,000 after purchasing an additional 171,280 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Regions Financial by 30.9% in the 1st quarter. Russell Investments Group Ltd. now owns 2,577,350 shares of the bank’s stock valued at $54,184,000 after purchasing an additional 607,799 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley upped their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price objective on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from $23.00 to $28.00 in a research report on Tuesday, September 24th. Finally, Citigroup lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.86.

Regions Financial Stock Down 0.7 %

Regions Financial stock opened at $23.82 on Monday. The firm has a market capitalization of $21.81 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.80 and a beta of 1.17. The stock’s fifty day simple moving average is $22.65 and its 200-day simple moving average is $20.89. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $24.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $0.49 EPS. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

About Regions Financial

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.