Holocene Advisors LP Purchases New Position in Regions Financial Co. (NYSE:RF)

Holocene Advisors LP bought a new stake in Regions Financial Co. (NYSE:RF - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 384,412 shares of the bank's stock, valued at approximately $8,968,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RF. Benjamin Edwards Inc. increased its stake in shares of Regions Financial by 13,948.1% during the third quarter. Benjamin Edwards Inc. now owns 284,755 shares of the bank's stock worth $6,643,000 after acquiring an additional 282,728 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Regions Financial during the third quarter worth about $8,274,000. Edgestream Partners L.P. acquired a new position in shares of Regions Financial during the third quarter worth about $3,565,000. Point72 Europe London LLP acquired a new position in Regions Financial during the third quarter worth about $5,770,000. Finally, Captrust Financial Advisors grew its position in Regions Financial by 16.0% during the third quarter. Captrust Financial Advisors now owns 108,572 shares of the bank's stock worth $2,533,000 after buying an additional 14,958 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF traded down $0.06 during trading hours on Wednesday, reaching $26.28. 8,001,362 shares of the company's stock traded hands, compared to its average volume of 7,891,926. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 2.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a twelve month low of $16.86 and a twelve month high of $27.96. The business's fifty day simple moving average is $24.72 and its two-hundred day simple moving average is $22.23.

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 for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. Regions Financial's revenue was down 3.7% on a year-over-year basis. Analysts predict that Regions Financial Co. will post 2.12 earnings per share for the current 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is presently 56.50%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RF. Truist Financial upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. DA Davidson upped their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company a "buy" rating in a report on Monday, October 21st. The Goldman Sachs Group upped their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Piper Sandler upped their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.18.

Regions Financial 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.