Cinctive Capital Management LP Decreases Stock Holdings in Regions Financial Co. (NYSE:RF)

Cinctive Capital Management LP lessened its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 81.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,027 shares of the bank's stock after selling 440,459 shares during the period. Cinctive Capital Management LP's holdings in Regions Financial were worth $2,287,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RF. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock valued at $201,238,000 after buying an additional 1,014,706 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock worth $285,562,000 after purchasing an additional 979,597 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank's stock valued at $648,269,000 after acquiring an additional 816,226 shares in the last quarter. AE Wealth Management LLC grew its stake in Regions Financial by 1,533.3% in the 2nd quarter. AE Wealth Management LLC now owns 645,659 shares of the bank's stock worth $12,939,000 after buying an additional 606,129 shares in the last quarter. Finally, Interval Partners LP bought a new stake in Regions Financial during the second quarter worth about $11,095,000. Institutional investors own 79.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler increased their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group raised their target price on Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Evercore ISI increased their price objective on Regions Financial from $24.50 to $26.00 and gave the stock an "in-line" rating in a report on Wednesday, October 2nd. Citigroup boosted their price objective on shares of Regions Financial from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company raised their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.18.

Regions Financial Stock Performance

RF stock traded down $0.13 during trading on Tuesday, reaching $26.40. The stock had a trading volume of 2,871,559 shares, compared to its average volume of 7,879,843. The firm has a market cap of $23.99 billion, a PE ratio of 15.00, a PEG ratio of 2.82 and a beta of 1.19. 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 stock's 50 day moving average is $24.58 and its two-hundred day moving average is $22.16. Regions Financial Co. has a 52 week low of $16.86 and a 52 week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. As a group, equities analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's dividend payout ratio is currently 56.50%.

Regions Financial Company Profile

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.