abrdn plc Has $56.93 Million Stake in Regions Financial Co. (NYSE:RF)

abrdn plc lessened its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 5.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,451,237 shares of the bank's stock after selling 153,158 shares during the period. abrdn plc owned about 0.27% of Regions Financial worth $56,930,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RF. Private Advisor Group LLC raised its stake in shares of Regions Financial by 1.8% during the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank's stock worth $581,000 after purchasing an additional 429 shares in the last quarter. CWM LLC raised its position in Regions Financial by 1.1% during the third quarter. CWM LLC now owns 42,346 shares of the bank's stock worth $988,000 after acquiring an additional 480 shares in the last quarter. Resonant Capital Advisors LLC raised its position in Regions Financial by 2.4% during the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank's stock worth $515,000 after acquiring an additional 506 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Regions Financial by 2.8% in the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank's stock valued at $473,000 after acquiring an additional 545 shares during the last quarter. Finally, IFG Advisory LLC grew its position in shares of Regions Financial by 1.8% in the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank's stock valued at $620,000 after acquiring an additional 546 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Price Performance

RF stock traded up $0.33 during midday trading on Wednesday, reaching $24.20. The company had a trading volume of 2,729,135 shares, compared to its average volume of 7,902,060. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 2.54 and a beta of 1.17. The stock has a 50 day moving average price of $22.99 and a 200-day moving average price of $21.07. Regions Financial Co. has a 1-year low of $14.27 and a 1-year high of $24.47. 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 (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. Equities research analysts expect that Regions Financial Co. will post 2.05 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is presently 54.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RF shares. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and raised their target price for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Argus upgraded Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 target price for the company in a research note on Thursday, October 24th. Stephens raised Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price target for the company in a report on Tuesday. Morgan Stanley raised their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.06.

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.