CIBC Asset Management Inc Has $3.68 Million Holdings in Regions Financial Co. (NYSE:RF)

CIBC Asset Management Inc raised its position in shares of Regions Financial Co. (NYSE:RF) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 157,600 shares of the bank’s stock after acquiring an additional 10,026 shares during the period. CIBC Asset Management Inc’s holdings in Regions Financial were worth $3,677,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 979,597 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after acquiring an additional 1,014,706 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of 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 acquiring an additional 433,319 shares during the last quarter. Wedge Capital Management L L P NC lifted its position 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 purchasing an additional 266,934 shares in the last quarter. Finally, National Pension Service grew its stake in shares of Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after purchasing an additional 102,380 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

RF opened at $26.33 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 2.76 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. The business has a 50 day moving average of $23.61 and a 200-day moving average of $21.61.

Regions Financial (NYSE:RF) last released 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). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. On average, equities research analysts expect that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.80%. Regions Financial’s payout ratio is currently 56.50%.

Wall Street Analyst Weigh In

A number of research analysts have commented on RF shares. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. DA Davidson raised their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Barclays raised their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley upped their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and an average price target 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.