CIBC World Markets Inc. trimmed its holdings in Regions Financial Corp (NYSE:RF) by 16.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,403 shares of the bank’s stock after selling 18,426 shares during the period. CIBC World Markets Inc.’s holdings in Regions Financial were worth $1,659,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Millennium Management LLC boosted its holdings in shares of Regions Financial by 52.7% during the 2nd quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock worth $351,038,000 after buying an additional 6,813,530 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Regions Financial by 135.1% during the 2nd quarter. Janus Henderson Group PLC now owns 7,807,580 shares of the bank’s stock worth $138,818,000 after buying an additional 4,486,512 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Regions Financial by 17.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,054,121 shares of the bank’s stock worth $367,993,000 after buying an additional 3,013,569 shares during the period. Nokota Management LP bought a new stake in shares of Regions Financial during the 2nd quarter worth $24,003,000. Finally, WINTON GROUP Ltd boosted its holdings in shares of Regions Financial by 350.4% during the 3rd quarter. WINTON GROUP Ltd now owns 1,596,788 shares of the bank’s stock worth $29,301,000 after buying an additional 1,242,245 shares during the period. 77.95% of the stock is owned by institutional investors.
Shares of Regions Financial stock opened at $16.45 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.80. Regions Financial Corp has a fifty-two week low of $15.42 and a fifty-two week high of $20.21. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.91 and a beta of 1.29.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Regions Financial had a net margin of 26.39% and a return on equity of 10.15%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $0.25 earnings per share. Regions Financial’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts expect that Regions Financial Corp will post 1.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, December 6th. Regions Financial’s dividend payout ratio (DPR) is presently 56.00%.
Several research firms recently issued reports on RF. Wedbush set a $22.00 price objective on shares of Regions Financial and gave the stock a “buy” rating in a report on Friday, September 7th. Vining Sparks reaffirmed a “buy” rating and set a $22.00 price objective on shares of Regions Financial in a report on Tuesday, October 9th. B. Riley set a $20.00 price objective on shares of Regions Financial and gave the stock a “hold” rating in a report on Monday, October 15th. Raymond James raised shares of Regions Financial from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, October 31st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised shares of Regions Financial from a “neutral” rating to an “overweight” rating and set a $16.20 price objective for the company in a report on Sunday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.68.
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About Regions Financial
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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