Soltis Investment Advisors LLC acquired a new stake in Regions Financial Corporation (NYSE:RF – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,569 shares of the bank’s stock, valued at approximately $526,000.
Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in Regions Financial by 14.0% during the 3rd quarter. D.A. Davidson & CO. now owns 126,486 shares of the bank’s stock worth $3,400,000 after buying an additional 15,580 shares during the period. North Dakota State Investment Board grew its position in Regions Financial by 11.1% in the third quarter. North Dakota State Investment Board now owns 28,656 shares of the bank’s stock valued at $770,000 after purchasing an additional 2,864 shares in the last quarter. Generali Asset Management SPA SGR increased its position in shares of Regions Financial by 249.9% in the third quarter. Generali Asset Management SPA SGR now owns 27,433 shares of the bank’s stock valued at $737,000 after acquiring an additional 19,593 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Regions Financial by 33.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 485,626 shares of the bank’s stock worth $13,054,000 after purchasing an additional 120,616 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its stake in Regions Financial by 2.5% in the third quarter. Oakworth Capital Inc. now owns 56,926 shares of the bank’s stock valued at $1,530,000 after acquiring an additional 1,405 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
RF has been the subject of several research analyst reports. Royal Bank Of Canada reduced their target price on Regions Financial from $34.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Morgan Stanley cut their price target on Regions Financial from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, September 28th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a report on Friday, July 17th. Citigroup dropped their price objective on Regions Financial from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Finally, Evercore restated an “underperform” rating and issued a $28.00 target price on shares of Regions Financial in a research report on Tuesday, October 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $31.00.
Get Our Latest Research Report on RF
Regions Financial Stock Up 0.1%
Shares of NYSE:RF opened at $28.59 on Monday. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.15 and a beta of 1.01. Regions Financial Corporation has a 1 year low of $23.59 and a 1 year high of $32.47. The business’s 50-day moving average is $28.53 and its 200-day moving average is $28.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.82 and a quick ratio of 0.81.
Regions Financial (NYSE:RF – Get Free Report) last announced its quarterly earnings data on Friday, October 16th. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.67 by $0.06. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Equities research analysts predict that Regions Financial Corporation will post 2.70 earnings per share for the current year.
Regions Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, December 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. Regions Financial’s payout ratio is currently 47.06%.
Regions Financial Company Profile
Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.
Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.
See Also
- Five stocks we like better than Regions Financial
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
- Oracle’s AI Spending Peak Is in Sight—Can the Stock Recover?
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.
