Concurrent Investment Advisors LLC Sells 70,700 Shares of Regions Financial Co. (NYSE:RF)

Concurrent Investment Advisors LLC lowered its position in Regions Financial Co. (NYSE:RF - Free Report) by 81.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,015 shares of the bank's stock after selling 70,700 shares during the period. Concurrent Investment Advisors LLC's holdings in Regions Financial were worth $374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Regions Financial in the first quarter worth approximately $26,000. American National Bank & Trust lifted its holdings in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock valued at $27,000 after purchasing an additional 1,114 shares in the last quarter. Quarry LP lifted its holdings in shares of Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after purchasing an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial in the second quarter valued at approximately $32,000. Institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

RF has been the topic of a number of recent research reports. DA Davidson raised their target price on Regions Financial from $27.00 to $29.00 and gave the company a "buy" rating in a report on Monday, October 21st. Truist Financial raised their target price on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday, October 21st. Barclays raised their target price on Regions Financial from $22.00 to $25.00 and gave the company an "underweight" rating in a report on Monday, October 21st. Argus upgraded Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 target price on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on Regions Financial from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Regions Financial presently has an average rating of "Moderate Buy" and a consensus price target of $25.45.

Regions Financial Stock Performance

NYSE:RF traded up $0.58 during trading hours on Monday, reaching $26.20. The stock had a trading volume of 7,444,272 shares, compared to its average volume of 7,952,714. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day simple moving average of $23.27 and a 200 day simple moving average of $21.38. Regions Financial Co. has a 12-month low of $14.86 and a 12-month high of $26.33. The stock has a market cap of $23.81 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The business's quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts forecast that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is presently 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.