Sumitomo Mitsui Trust Group Inc. Has $58.63 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,512,902 shares of the bank's stock after selling 22,036 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Regions Financial worth $58,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Apollon Wealth Management LLC lifted its position in Regions Financial by 23.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,287 shares of the bank's stock worth $473,000 after buying an additional 3,863 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Regions Financial in the third quarter valued at about $350,000. Venturi Wealth Management LLC raised its holdings in Regions Financial by 413.6% during the third quarter. Venturi Wealth Management LLC now owns 3,708 shares of the bank's stock worth $87,000 after acquiring an additional 2,986 shares in the last quarter. Kennebec Savings Bank bought a new stake in Regions Financial during the third quarter worth about $60,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Regions Financial by 17.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 268,901 shares of the bank's stock valued at $6,273,000 after purchasing an additional 40,842 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Ratings Changes

RF has been the topic of a number of analyst reports. Royal Bank of Canada upped their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. StockNews.com upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research note on Friday, October 25th. Stephens raised shares of Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price objective for the company in a research report on Tuesday, October 29th. Morgan Stanley upped their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Finally, Bank of America lifted their price target on Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 22nd. 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. Based on data from MarketBeat.com, Regions Financial presently has an average rating of "Moderate Buy" and an average price target of $26.18.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.09 during trading on Friday, reaching $26.36. The company's stock had a trading volume of 9,270,683 shares, compared to its average volume of 7,954,415. 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 business's 50-day moving average price is $23.53 and its 200-day moving average price is $21.53. Regions Financial Co. has a 52 week low of $15.79 and a 52 week high of $26.73. The firm has a market cap of $23.96 billion, a PE ratio of 14.89, a P/E/G ratio of 2.73 and a beta of 1.16.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data 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). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $0.49 EPS. The business's revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts forecast that Regions Financial Co. will post 2.1 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's dividend payout ratio is currently 56.50%.

Regions Financial 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.