Regions Financial Co. (NYSE:RF) Shares Acquired by State Street Corp

State Street Corp increased its position in shares of Regions Financial Co. (NYSE:RF) by 16.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,485,987 shares of the bank’s stock after acquiring an additional 7,791,399 shares during the period. State Street Corp owned approximately 6.11% of Regions Financial worth $1,306,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RF. Quarry LP boosted its position in shares of Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares in the last quarter. Private Advisor Group LLC lifted its stake in Regions Financial by 1.8% during the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the last quarter. CWM LLC boosted its holdings in Regions Financial by 1.1% during the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after buying an additional 480 shares in the last quarter. Resonant Capital Advisors LLC grew its position in Regions Financial by 2.4% in the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock worth $515,000 after buying an additional 506 shares during the last quarter. Finally, Centaurus Financial Inc. increased its holdings in shares of Regions Financial by 5.9% in the third quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock valued at $228,000 after buying an additional 540 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RF. Wells Fargo & Company raised their price objective on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. Piper Sandler lifted their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, DA Davidson lifted their target price on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.18.

Regions Financial Trading Down 0.2 %

NYSE RF opened at $26.25 on Friday. The company has a market capitalization of $23.86 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.73 and a beta of 1.19. Regions Financial Co. has a 1-year low of $16.86 and a 1-year high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $24.85 and its 200-day simple moving average is $22.30.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share 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 return on equity of 12.60% and a net margin of 18.78%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 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.