BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Holdings in Regions Financial Co. (NYSE:RF)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Regions Financial Co. (NYSE:RF - Free Report) by 13.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,805 shares of the bank's stock after selling 23,190 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Regions Financial were worth $3,565,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Edgestream Partners L.P. acquired a new stake in Regions Financial in the third quarter valued at $3,565,000. Point72 Europe London LLP purchased a new stake in Regions Financial during the third quarter valued at about $5,770,000. Captrust Financial Advisors lifted its position in shares of Regions Financial by 16.0% in the third quarter. Captrust Financial Advisors now owns 108,572 shares of the bank's stock worth $2,533,000 after purchasing an additional 14,958 shares in the last quarter. Vinva Investment Management Ltd acquired a new position in Regions Financial during the third quarter valued at approximately $208,000. Finally, Public Sector Pension Investment Board grew its stake in shares of Regions Financial by 2.9% in the third quarter. Public Sector Pension Investment Board now owns 159,607 shares of the bank's stock worth $3,724,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RF. Keefe, Bruyette & Woods raised Regions Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Argus upgraded Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price objective on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a "hold" rating to a "buy" rating and lifted their price objective for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Truist Financial boosted their target price on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a research note on Monday, October 21st. Finally, Evercore ISI upped their price objective on Regions Financial from $24.50 to $26.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and an average price target of $27.18.

Regions Financial Trading Down 0.2 %

NYSE RF traded down $0.06 on Wednesday, hitting $26.28. The company's stock had a trading volume of 8,001,362 shares, compared to its average volume of 7,891,926. Regions Financial Co. has a 52-week low of $16.86 and a 52-week high of $27.96. The firm has a market cap of $23.88 billion, a P/E ratio of 14.85, a PEG ratio of 2.75 and a beta of 1.19. The company's 50-day simple moving average is $24.72 and its 200 day simple moving average is $22.23. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. Research analysts predict that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.81%. Regions Financial's dividend payout ratio (DPR) is currently 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.