Versor Investments LP Makes New Investment in Regions Financial Co. (NYSE:RF)

Versor Investments LP bought a new stake in Regions Financial Co. (NYSE:RF) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the bank’s stock, valued at approximately $350,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after buying an additional 979,597 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of 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 acquiring an additional 433,319 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Regions Financial by 12.9% during the second quarter. Wedge Capital Management L L P NC now owns 2,343,629 shares of the bank’s stock worth $46,966,000 after acquiring an additional 266,934 shares during the period. Finally, National Pension Service raised its holdings in Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after purchasing an additional 102,380 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of NYSE RF opened at $26.36 on Friday. The company has a 50-day simple moving average of $23.53 and a 200-day simple moving average of $21.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $23.96 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. Regions Financial Co. has a 12 month low of $15.79 and a 12 month high of $26.73.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Wall Street Analyst Weigh In

RF has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wedbush increased their price objective on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Morgan Stanley boosted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI upped their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.18.

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.