Sanctuary Advisors LLC Purchases 237,601 Shares of Regions Financial Co. (NYSE:RF)

Sanctuary Advisors LLC grew its position in Regions Financial Co. (NYSE:RF - Free Report) by 282.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 321,840 shares of the bank's stock after buying an additional 237,601 shares during the quarter. Sanctuary Advisors LLC's holdings in Regions Financial were worth $7,509,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank's stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. National Bank of Canada FI lifted its position in Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank's stock worth $39,784,000 after buying an additional 1,452,956 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock valued at $201,238,000 after buying an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock valued at $285,562,000 after acquiring an additional 979,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank's stock worth $648,269,000 after acquiring an additional 816,226 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

NYSE:RF traded up $0.06 during mid-day trading on Friday, hitting $25.11. The stock had a trading volume of 7,466,738 shares, compared to its average volume of 7,879,551. The company's 50 day simple moving average is $25.11 and its 200 day simple moving average is $22.53. The stock 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. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a twelve month low of $17.42 and a twelve month 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 earnings per share 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business posted $0.49 EPS. Regions Financial's revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.98%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is presently 56.50%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Compass Point raised their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Argus upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and upped their price objective for the stock from $24.00 to $26.00 in a 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, Piper Sandler increased their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. One equities 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's stock. Based on data from MarketBeat, Regions Financial presently has an average rating of "Moderate Buy" and a consensus price target 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.