Ritholtz Wealth Management Raises Holdings in Regions Financial Co. (NYSE:RF)

Ritholtz Wealth Management increased its stake in shares of Regions Financial Co. (NYSE:RF) by 4.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 17,926 shares of the bank’s stock after buying an additional 697 shares during the quarter. Ritholtz Wealth Management’s holdings in Regions Financial were worth $418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Regions Financial by 1.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after acquiring an additional 103,529 shares during the last quarter. Cincinnati Insurance Co. purchased a new stake in Regions Financial in the 1st quarter worth approximately $74,606,000. Victory Capital Management Inc. raised its holdings in Regions Financial by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock valued at $59,421,000 after acquiring an additional 433,319 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Regions Financial by 6.5% during the 1st 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. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RF shares. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Citigroup lifted their price target on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods cut their price objective on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Truist Financial boosted their target price on shares of Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Evercore ISI increased 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.86.

Regions Financial Stock Performance

NYSE:RF opened at $23.99 on Thursday. The firm has a 50-day moving average of $22.52 and a two-hundred day moving average of $20.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $21.97 billion, a P/E ratio of 13.04, a PEG ratio of 2.80 and a beta of 1.17. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $24.33.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm earned $0.59 EPS. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. On average, research analysts expect that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 dividend yield of 4.17%. 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.