Point72 Asset Management L.P. acquired a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 753,941 shares of the bank's stock, valued at approximately $17,589,000. Point72 Asset Management L.P. owned about 0.08% of Regions Financial as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of RF. Investment Management Corp of Ontario boosted its position in shares of Regions Financial by 47.6% during the third quarter. Investment Management Corp of Ontario now owns 30,395 shares of the bank's stock valued at $709,000 after buying an additional 9,800 shares during the last quarter. Hilltop Holdings Inc. bought a new position in Regions Financial during the 3rd quarter valued at about $2,268,000. Holocene Advisors LP purchased a new stake in shares of Regions Financial during the 3rd quarter valued at about $8,968,000. Benjamin Edwards Inc. grew its stake in shares of Regions Financial by 13,948.1% in 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. Finally, Erste Asset Management GmbH purchased a new position in shares of Regions Financial during the third quarter valued at approximately $8,274,000. 79.39% of the stock is currently owned by institutional investors.
Regions Financial Price Performance
Shares of Regions Financial stock traded down $0.03 during trading hours on Friday, reaching $26.26. The company's stock had a trading volume of 4,042,405 shares, compared to its average volume of 6,806,573. The firm has a 50 day moving average price of $24.85 and a 200-day moving average price of $22.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $23.87 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.72 and a beta of 1.19. Regions Financial Co. has a one year low of $16.86 and a one year high of $27.96.
Regions Financial (NYSE:RF - Get Free Report) last announced its 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). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter last year, the firm posted $0.49 EPS. Regions Financial's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts predict that Regions Financial Co. will post 2.12 EPS for the current year.
Regions Financial Dividend Announcement
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 given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. Regions Financial's dividend payout ratio (DPR) is presently 56.50%.
Analysts Set New Price Targets
RF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised Regions Financial from a "market perform" rating to an "outperform" rating and increased their target price for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Citigroup boosted their target price on shares of Regions Financial from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Wedbush lifted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. The Goldman Sachs Group upped their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, DA Davidson lifted their target price on Regions Financial from $27.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of "Moderate Buy" and an average target price of $27.18.
Check Out Our Latest Report on RF
Regions Financial Company Profile
(
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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