Integrated Advisors Network LLC Buys New Shares in Regions Financial Co. (NYSE:RF)

Integrated Advisors Network LLC bought a new stake in Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 28,494 shares of the bank’s stock, valued at approximately $665,000.

Several other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Regions Financial by 7.4% in the second 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 period. Allspring Global Investments Holdings LLC raised its position in 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 worth $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Cincinnati Insurance Co. acquired a new position in Regions Financial in the first quarter worth about $74,606,000. Victory Capital Management Inc. raised its position in Regions Financial by 17.1% in 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Regions Financial by 6.5% in 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 in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the subject of several recent research reports. Citigroup increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wedbush increased their price target on shares of 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 raised their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group raised their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Truist Financial raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.45.

Regions Financial Price Performance

RF opened at $23.87 on Friday. Regions Financial Co. has a one year low of $14.27 and a one year high of $24.47. The stock has a market capitalization of $21.84 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.54 and a beta of 1.17. 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’s 50 day simple moving average is $23.07 and its 200-day simple moving average is $21.11.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business posted $0.49 earnings per share. Regions Financial’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Co. will post 2.05 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.19%. Regions Financial’s payout ratio is presently 56.50%.

Regions Financial 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.