FinTrust Capital Advisors LLC lifted its stake in shares of Regions Financial Co. (NYSE:RF) by 35.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,981 shares of the bank’s stock after acquiring an additional 1,043 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Regions Financial were worth $46,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Thornburg Investment Management Inc. lifted its holdings in Regions Financial by 18.4% in the 3rd quarter. Thornburg Investment Management Inc. now owns 11,824,529 shares of the bank’s stock worth $136,337,000 after purchasing an additional 1,838,529 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Regions Financial by 14.4% in the 2nd quarter. Federated Hermes Inc. now owns 11,500,379 shares of the bank’s stock worth $127,885,000 after purchasing an additional 1,450,305 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Regions Financial by 126.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,490,998 shares of the bank’s stock worth $127,780,000 after purchasing an additional 6,421,820 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Regions Financial by 108.3% in the 2nd quarter. Nordea Investment Management AB now owns 11,057,484 shares of the bank’s stock worth $120,968,000 after purchasing an additional 5,748,190 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Regions Financial by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,938,671 shares of the bank’s stock worth $99,398,000 after purchasing an additional 496,054 shares in the last quarter. 73.35% of the stock is currently owned by institutional investors.
In other news, EVP David R. Keenan sold 27,000 shares of the stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $15.52, for a total transaction of $419,040.00. Following the transaction, the executive vice president now owns 21,725 shares of the company’s stock, valued at approximately $337,172. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.
Shares of Regions Financial stock opened at $15.11 on Friday. The stock’s fifty day moving average is $13.39 and its two-hundred day moving average is $11.71. The company has a market capitalization of $14.51 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 3.63 and a beta of 1.60. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. Regions Financial Co. has a 52 week low of $6.94 and a 52 week high of $17.54.
Regions Financial (NYSE:RF) last posted its quarterly earnings results on Tuesday, October 20th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. Regions Financial had a return on equity of 5.10% and a net margin of 11.32%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, research analysts anticipate that Regions Financial Co. will post 0.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 4th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Thursday, December 3rd. Regions Financial’s payout ratio is 40.00%.
A number of research firms recently commented on RF. Credit Suisse Group boosted their price target on Regions Financial from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Wolfe Research began coverage on Regions Financial in a report on Friday, July 31st. They set an “outperform” rating on the stock. Janney Montgomery Scott cut Regions Financial from a “buy” rating to a “neutral” rating in a report on Friday, November 6th. Truist raised Regions Financial to a “buy” rating in a report on Thursday, September 17th. Finally, Morgan Stanley upped their price objective on Regions Financial from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Regions Financial has an average rating of “Buy” and a consensus target price of $13.33.
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.
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