Achmea Investment Management B.V. decreased its position in shares of Regions Financial Corp (NYSE:RF) by 18.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,252 shares of the bank’s stock after selling 80,083 shares during the period. Achmea Investment Management B.V.’s holdings in Regions Financial were worth $6,533,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RF. Dupont Capital Management Corp increased its holdings in shares of Regions Financial by 226.6% in the third quarter. Dupont Capital Management Corp now owns 134,148 shares of the bank’s stock worth $2,462,000 after buying an additional 93,078 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Regions Financial by 1,696.1% in the third quarter. Penserra Capital Management LLC now owns 23,780 shares of the bank’s stock worth $436,000 after buying an additional 22,456 shares during the period. Main Street Research LLC increased its holdings in shares of Regions Financial by 4.6% in the third quarter. Main Street Research LLC now owns 995,966 shares of the bank’s stock worth $18,276,000 after buying an additional 43,968 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Regions Financial by 37.4% in the third quarter. Janney Montgomery Scott LLC now owns 83,007 shares of the bank’s stock worth $1,523,000 after buying an additional 22,607 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Regions Financial in the third quarter worth about $229,000. Institutional investors and hedge funds own 73.85% of the company’s stock.
Regions Financial stock opened at $17.24 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80. The company has a market cap of $19.45 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.99 and a beta of 1.29. Regions Financial Corp has a fifty-two week low of $15.06 and a fifty-two week high of $20.21.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Regions Financial had a net margin of 26.39% and a return on equity of 10.15%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, analysts forecast that Regions Financial Corp will post 1.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.56 annualized dividend and a yield of 3.25%. Regions Financial’s payout ratio is 56.00%.
Several analysts recently issued reports on the company. Wedbush set a $22.00 target price on Regions Financial and gave the stock a “buy” rating in a research note on Friday, September 7th. B. Riley set a $20.00 target price on Regions Financial and gave the stock a “hold” rating in a research note on Monday, October 15th. Raymond James cut their target price on Regions Financial from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Finally, Vining Sparks reissued a “buy” rating and issued a $22.00 target price on shares of Regions Financial in a research note on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $18.91.
Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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