M&G Plc Has $1.05 Million Stock Position in Regions Financial Co. (NYSE:RF)

M&G PLC reduced its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 91.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,786 shares of the bank's stock after selling 475,047 shares during the period. M&G PLC's holdings in Regions Financial were worth $1,053,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in shares of Regions Financial in the 1st quarter valued at about $26,000. American National Bank & Trust grew its stake in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP grew its holdings in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after buying an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Regions Financial during the second quarter valued at approximately $32,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

NYSE RF traded up $0.21 during trading hours on Friday, reaching $25.62. 6,487,977 shares of the company's stock were exchanged, compared to its average volume of 8,398,264. 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 has a market cap of $23.28 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 2.75 and a beta of 1.16. The firm has a fifty day moving average of $23.27 and a 200-day moving average of $21.36. Regions Financial Co. has a one year low of $14.86 and a one year high of $26.33.

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 analysts' consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. The business's quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

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. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.90%. Regions Financial's dividend payout ratio is currently 56.50%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RF shares. The Goldman Sachs Group increased their price objective on Regions Financial from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Barclays increased their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock an "underweight" rating in a research report on Monday, October 21st. Bank of America boosted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a "hold" rating to a "buy" rating and boosted their target price for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Royal Bank of Canada raised their price target on Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Regions Financial has a consensus rating of "Moderate Buy" and an average price target of $25.45.

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.