First Trust Direct Indexing L.P. Has $494,000 Stock Position in Regions Financial Co. (NYSE:RF)

First Trust Direct Indexing L.P. raised its holdings in Regions Financial Co. (NYSE:RF) by 25.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,172 shares of the bank’s stock after buying an additional 4,360 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Regions Financial were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC lifted its position in shares of Regions Financial by 1.8% in the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock worth $581,000 after acquiring an additional 429 shares during the period. CWM LLC lifted its position in shares of Regions Financial by 1.1% in the 3rd quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after acquiring an additional 480 shares during the period. Resonant Capital Advisors LLC lifted its position in shares of Regions Financial by 2.4% in the 3rd quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock worth $515,000 after acquiring an additional 506 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Regions Financial by 2.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock worth $473,000 after acquiring an additional 545 shares during the period. Finally, IFG Advisory LLC lifted its position in shares of Regions Financial by 1.8% in the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 1.3 %

NYSE RF opened at $23.56 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 52 week low of $14.60 and a 52 week high of $24.47. The stock has a fifty day moving average of $23.09 and a 200-day moving average of $21.18. The stock has a market capitalization of $21.56 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16.

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

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Analyst Upgrades and Downgrades

RF has been the subject of several analyst reports. Barclays raised their target price on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $28.00 in a research report on Thursday. Morgan Stanley raised their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their target price on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.45.

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.