Basswood Capital Management L.L.C. Lowers Position in Regions Financial Co. (NYSE:RF)

Basswood Capital Management L.L.C. decreased its stake in shares of Regions Financial Co. (NYSE:RF) by 55.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 366,312 shares of the bank’s stock after selling 463,408 shares during the period. Basswood Capital Management L.L.C.’s holdings in Regions Financial were worth $8,546,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased 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 valued at $648,269,000 after buying an additional 816,226 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Regions Financial by 7.4% in the second 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. Allspring Global Investments Holdings LLC increased its position in shares of Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Regions Financial by 0.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after acquiring an additional 61,426 shares during the period. Finally, FMR LLC boosted its position in Regions Financial by 8.4% in the third quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock worth $72,548,000 after purchasing an additional 241,838 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RF shares. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wedbush boosted their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Citigroup raised their price target on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Argus raised 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. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

Regions Financial Stock Up 0.0 %

Shares of NYSE RF opened at $27.26 on Monday. 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 company has a market cap of $24.78 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.82 and a beta of 1.16. Regions Financial Co. has a 52 week low of $16.51 and a 52 week high of $27.96. The business has a 50-day simple moving average of $24.50 and a two-hundred day simple moving average of $22.11.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm 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%. Regions Financial’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. Research 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 declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. Regions Financial’s payout ratio is currently 56.50%.

About Regions Financial

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.