Nisa Investment Advisors LLC Sells 34,795 Shares of Regions Financial Co. (NYSE:RF)

Nisa Investment Advisors LLC trimmed its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,708 shares of the bank's stock after selling 34,795 shares during the quarter. Nisa Investment Advisors LLC's holdings in Regions Financial were worth $7,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American National Bank & Trust lifted its position in Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock valued at $27,000 after buying an additional 1,114 shares during the period. EntryPoint Capital LLC purchased a new position in Regions Financial during the 1st quarter valued at about $26,000. Quarry LP lifted its position in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after acquiring an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. boosted 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 worth $30,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Regions Financial in the second quarter worth about $32,000. Institutional investors own 79.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on RF shares. Truist Financial boosted their price target on Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods raised Regions Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $27.00 to $28.00 in a report on Thursday. Evercore ISI upped their price target on Regions Financial from $24.50 to $26.00 and gave the company an "in-line" rating in a report on Wednesday, October 2nd. Argus upgraded Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price objective for the company in a report on Thursday, October 24th. Finally, Stephens upgraded shares of Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 target price on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.45.

Regions Financial Price Performance

Shares of RF traded down $0.19 during mid-day trading on Thursday, reaching $23.87. The stock had a trading volume of 7,379,787 shares, compared to its average volume of 7,923,570. The business has a fifty day moving average of $23.04 and a 200 day moving average of $21.10. 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 firm has a market cap of $21.84 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.54 and a beta of 1.17. Regions Financial Co. has a 12 month low of $14.27 and a 12 month high of $24.47.

Regions Financial (NYSE:RF - Get Free Report) last issued 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). The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 EPS. Equities analysts predict that Regions Financial Co. will post 2.05 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is currently 56.50%.

About Regions Financial

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.