Oppenheimer & Co. Inc. Decreases Holdings in Regions Financial Co. (NYSE:RF)

Oppenheimer & Co. Inc. reduced its stake in Regions Financial Co. (NYSE:RF) by 45.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,554 shares of the bank’s stock after selling 13,828 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Regions Financial were worth $386,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in Regions Financial during the first quarter worth $26,000. American National Bank & Trust raised its stake in Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP raised its holdings in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Regions Financial in the second quarter valued at approximately $32,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Up 1.8 %

RF stock opened at $26.74 on Friday. The company’s 50 day moving average is $23.85 and its two-hundred day moving average is $21.74. Regions Financial Co. has a twelve month low of $15.79 and a twelve month high of $26.92. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock has a market cap of $24.30 billion, a P/E ratio of 15.11, a PEG ratio of 2.72 and a beta of 1.16.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. Research analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is currently 56.50%.

Analysts Set New Price Targets

RF has been the subject of several recent analyst reports. Truist Financial raised their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. The Goldman Sachs Group increased their target price 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, StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and an average target price of $26.41.

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.