Regions Financial Corporation $RF Stock: Asset Management One Co. Ltd. Raises Holdings

Key Points

• Asset Management One Co. Ltd. increased its Regions Financial stake by 33% in the third quarter, adding 120,616 shares and bringing its total holdings to 485,626 shares worth approximately $13.1 million.
• Institutional investors and hedge funds own 79.39% of Regions Financial, while several other funds also increased or initiated positions in the bank.
• Analysts maintain a consensus “Hold” rating with an average price target of $31.00. Regions Financial recently exceeded quarterly EPS estimates, and its $0.30 quarterly dividend implies a 4.2% annualized yield.

Asset Management One Co. Ltd. grew its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 33.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 485,626 shares of the bank's stock after purchasing an additional 120,616 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.06% of Regions Financial worth $13,054,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. WPG Advisers LLC increased its stake in shares of Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after acquiring an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Regions Financial during the 2nd quarter valued at $25,000. Trust Co. of Vermont purchased a new stake in shares of Regions Financial during the 2nd quarter valued at $26,000. Gables Capital Management Inc. acquired a new stake in shares of Regions Financial during the 2nd quarter worth $30,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in shares of Regions Financial during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RF shares. JPMorgan Chase & Co. boosted their price target on Regions Financial from $30.50 to $31.00 and gave the company a "neutral" rating in a research report on Friday. Citigroup cut their price objective on Regions Financial from $36.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, October 21st. TD Cowen assumed coverage on Regions Financial in a research note on Thursday, October 8th. They issued a "hold" rating and a $30.00 price objective on the stock. Truist Financial decreased their target price on Regions Financial from $31.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, October 20th. Finally, Robert W. Baird upgraded shares of Regions Financial from an "underperform" rating to a "neutral" rating and set a $28.00 price target on the stock in a report on Friday, September 18th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $31.00.

Regions Financial Stock Down 1.0%

RF stock opened at $28.59 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $28.53 and a 200-day simple moving average of $28.68. The company has a market capitalization of $24.36 billion, a P/E ratio of 11.11, a PEG ratio of 1.17 and a beta of 1.05. Regions Financial Corporation has a twelve month low of $23.59 and a twelve month high of $32.47.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. On average, equities research analysts predict that Regions Financial Corporation will post 2.70 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a $0.30 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. Regions Financial's dividend payout ratio (DPR) is presently 47.06%.

Regions Financial Profile

Regions Financial Corporation NYSE: RF is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.

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