GAM Holding AG bought a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 52,963 shares of the bank's stock, valued at approximately $1,236,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. lifted its position in shares of Regions Financial by 281.7% during the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank's stock worth $1,675,000 after buying an additional 58,739 shares during the period. UniSuper Management Pty Ltd raised its position in Regions Financial by 1,075.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank's stock valued at $942,000 after purchasing an additional 40,972 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Regions Financial by 30.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank's stock valued at $8,734,000 after purchasing an additional 98,003 shares during the last quarter. Swedbank AB bought a new position in Regions Financial in the 1st quarter valued at $19,322,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Regions Financial in the 1st quarter valued at $33,829,000. Institutional investors own 79.39% of the company's stock.
Wall Street Analysts Forecast Growth
RF has been the subject of several research analyst reports. DA Davidson lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the company a "buy" rating in a research report on Monday. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a research report on Monday. Barclays lifted their target price on Regions Financial from $22.00 to $25.00 and gave the company an "underweight" rating in a research note on Monday. Evercore ISI lifted their target price on Regions Financial from $24.50 to $26.00 and gave the company an "in-line" rating in a research note on Wednesday, October 2nd. Finally, StockNews.com cut Regions Financial from a "hold" rating to a "sell" rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $23.64.
Get Our Latest Research Report on Regions Financial
Regions Financial Stock Performance
RF stock remained flat at $23.64 during midday trading on Wednesday. The company's stock had a trading volume of 5,762,228 shares, compared to its average volume of 7,938,441. The stock's 50 day moving average is $22.76 and its two-hundred day moving average is $20.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $21.65 billion, a P/E ratio of 12.85, a PEG ratio of 2.80 and a beta of 1.17. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $24.47.
Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business's revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, analysts expect that Regions Financial Co. will post 2.02 EPS for the current year.
Regions Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 4.23%. Regions Financial's dividend payout ratio is presently 54.35%.
About Regions Financial
(
Free Report)
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.
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