Synovus Financial Corp Raises Holdings in Regions Financial Co. (NYSE:RF)

Synovus Financial Corp boosted its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 55.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 375,572 shares of the bank's stock after acquiring an additional 134,615 shares during the quarter. Synovus Financial Corp's holdings in Regions Financial were worth $8,762,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC grew its stake in Regions Financial by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 127,326 shares of the bank's stock worth $2,971,000 after acquiring an additional 2,531 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Regions Financial in the third quarter valued at approximately $56,000. World Investment Advisors LLC grew its stake in Regions Financial by 14.5% in the third quarter. World Investment Advisors LLC now owns 15,837 shares of the bank's stock worth $369,000 after purchasing an additional 2,010 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Regions Financial by 282.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 321,840 shares of the bank's stock worth $7,509,000 after purchasing an additional 237,601 shares during the period. Finally, Fortem Financial Group LLC raised its position in Regions Financial by 4.9% during the 3rd quarter. Fortem Financial Group LLC now owns 27,777 shares of the bank's stock valued at $648,000 after purchasing an additional 1,289 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of NYSE RF traded up $0.06 during midday trading on Friday, reaching $25.11. 7,466,738 shares of the stock were exchanged, compared to its average volume of 7,879,551. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $25.11 and a two-hundred day simple moving average of $22.51. Regions Financial Co. has a twelve month low of $17.42 and a twelve month high of $27.96. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 2.64 and a beta of 1.19.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.98%. The ex-dividend date is Monday, December 2nd. Regions Financial's payout ratio is 56.50%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup boosted their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Piper Sandler boosted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Argus raised Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 target price on the stock in a research report on Thursday, October 24th. StockNews.com raised Regions Financial from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. Finally, Truist Financial lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.61.

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.