Citigroup Inc. Has $35.45 Million Stock Position in Regions Financial Co. (NYSE:RF)

Citigroup Inc. raised its stake in Regions Financial Co. (NYSE:RF) by 20.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,519,299 shares of the bank’s stock after buying an additional 253,708 shares during the quarter. Citigroup Inc.’s holdings in Regions Financial were worth $35,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new position in Regions Financial in the 1st quarter worth approximately $26,000. American National Bank & Trust raised its position in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares during the last quarter. Quarry LP raised its position in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 valued at $30,000 after acquiring an additional 1,256 shares during the period. Finally, Innealta Capital LLC bought a new position in Regions Financial in the second quarter valued at about $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Truist Financial lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Wells Fargo & Company increased their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research report on Tuesday, October 29th. Finally, Wedbush upped their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.41.

Regions Financial Stock Up 2.0 %

NYSE:RF opened at $27.28 on Monday. The stock has a 50-day simple moving average of $24.05 and a 200 day simple moving average of $21.84. Regions Financial Co. has a 52-week low of $15.79 and a 52-week high of $27.32. The company has a market cap of $24.79 billion, a PE ratio of 15.41, a PEG ratio of 2.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) 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 business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business earned $0.49 earnings per share. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. Regions Financial’s dividend payout ratio is 56.50%.

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.