Regions Financial Co. (NYSE:RF) Stock Position Decreased by Swedbank AB

Swedbank AB cut its stake in shares of Regions Financial Co. (NYSE:RF) by 0.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 904,671 shares of the bank’s stock after selling 1,686 shares during the period. Swedbank AB’s holdings in Regions Financial were worth $21,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lane & Associates LLC purchased a new position in Regions Financial in the 3rd quarter worth about $293,000. Cerity Partners LLC increased its position in shares of Regions Financial by 9.7% in the third quarter. Cerity Partners LLC now owns 483,032 shares of the bank’s stock worth $11,269,000 after acquiring an additional 42,520 shares in the last quarter. Waddell & Associates LLC raised its holdings in shares of Regions Financial by 13.6% during the third quarter. Waddell & Associates LLC now owns 35,461 shares of the bank’s stock valued at $827,000 after acquiring an additional 4,241 shares during the period. Citigroup Inc. lifted its position in shares of Regions Financial by 20.0% in the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after acquiring an additional 253,708 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on RF shares. Truist Financial boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Morgan Stanley increased their price objective on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. 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 note on Monday, October 21st. The Goldman Sachs Group increased their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Wedbush boosted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

Regions Financial Price Performance

NYSE RF opened at $27.47 on Tuesday. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $27.96. The stock’s 50-day moving average is $24.16 and its two-hundred day moving average is $21.91. The firm has a market cap of $24.97 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.83 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly earnings data 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). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. On average, analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.64%. 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.