Monte Financial Group LLC Has $5.73 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Monte Financial Group LLC lowered its stake in Regions Financial Co. (NYSE:RF) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 245,615 shares of the bank’s stock after selling 2,292 shares during the quarter. Regions Financial comprises approximately 2.4% of Monte Financial Group LLC’s holdings, making the stock its 17th largest holding. Monte Financial Group LLC’s holdings in Regions Financial were worth $5,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EntryPoint Capital LLC acquired a new position in Regions Financial during the first quarter valued at approximately $26,000. American National Bank & Trust grew its holdings in shares of 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 buying an additional 1,114 shares during the period. Quarry LP increased its position in shares of 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 buying an additional 816 shares in the last quarter. MV Capital Management Inc. raised its stake in Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after buying an additional 618 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

Shares of RF stock opened at $23.64 on Thursday. The company has a fifty day moving average price of $22.81 and a two-hundred day moving average price of $20.96. Regions Financial Co. has a one year low of $13.72 and a one year high of $24.47. The stock has a market cap of $21.65 billion, a P/E ratio of 12.85, a P/E/G ratio of 2.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities analysts predict that Regions Financial Co. will post 2.02 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is presently 54.35%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RF. Wells Fargo & Company raised their price target on Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday. Wedbush lifted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday. Jefferies Financial Group raised their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley increased their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.64.

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.