HighTower Advisors LLC Has $4.83 Million Stock Position in Regions Financial Co. (NYSE:RF)

HighTower Advisors LLC lowered its holdings in Regions Financial Co. (NYSE:RF) by 16.1% in the third quarter, HoldingsChannel.com reports. The firm owned 207,254 shares of the bank’s stock after selling 39,677 shares during the quarter. HighTower Advisors LLC’s holdings in Regions Financial were worth $4,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RF. Sequoia Financial Advisors LLC grew its stake in shares of Regions Financial by 12.3% during the second quarter. Sequoia Financial Advisors LLC now owns 19,722 shares of the bank’s stock worth $395,000 after buying an additional 2,157 shares during the last quarter. Diversified Trust Co grew its position in Regions Financial by 23.1% in the 2nd quarter. Diversified Trust Co now owns 39,384 shares of the bank’s stock valued at $789,000 after purchasing an additional 7,399 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Regions Financial by 7.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 143,852 shares of the bank’s stock valued at $2,883,000 after purchasing an additional 10,514 shares in the last quarter. PGGM Investments raised its holdings in shares of Regions Financial by 31.9% in the second quarter. PGGM Investments now owns 11,227 shares of the bank’s stock valued at $225,000 after purchasing an additional 2,714 shares during the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in shares of Regions Financial in the 2nd quarter worth approximately $247,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE RF opened at $25.33 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $23.02 billion, a PE ratio of 14.31, a PEG ratio of 2.72 and a beta of 1.19. Regions Financial Co. has a one year low of $17.18 and a one year high of $27.96. The firm has a fifty day moving average of $24.96 and a 200 day moving average of $22.43.

Regions Financial (NYSE:RF) last issued 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). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, research analysts predict that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RF shares. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Piper Sandler upped their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays increased their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.61.

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.