Regions Financial Corporation $RF Stock Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Regions Financial stake by 3.0% in the third quarter, selling 66,175 shares; it retained 2.11 million shares worth about $56.7 million.
• Regions reported quarterly EPS of $0.73, beating the $0.67 consensus. Revenue was $1.99 billion, up 3% year over year.
• The bank declared a quarterly dividend of $0.30 per share, equivalent to a 4.2% annualized yield. Analysts’ average rating was “Hold,” with a $31 consensus price target.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,109,007 shares of the bank's stock after selling 66,175 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Regions Financial worth $56,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of RF. WPG Advisers LLC grew its position in 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 purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in Regions Financial in the 2nd quarter worth $25,000. Trust Co. of Vermont bought a new stake in shares of Regions Financial during the second quarter valued at approximately $26,000. Gables Capital Management Inc. purchased a new stake in shares of Regions Financial in the second quarter worth about $30,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Regions Financial in the 2nd quarter worth $36,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Trading Down 1.4%

NYSE RF opened at $28.57 on Wednesday. Regions Financial Corporation has a 52 week low of $23.59 and a 52 week high of $32.47. The stock has a market capitalization of $24.34 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $28.46 and a two-hundred day moving average of $28.69.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, October 16th. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The company's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. As a group, research analysts expect that Regions Financial Corporation will post 2.70 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Regions Financial's dividend payout ratio is currently 47.06%.

Analysts Set New Price Targets

RF has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, September 19th. Royal Bank Of Canada lowered their price target on Regions Financial from $34.00 to $32.00 and set an "outperform" rating for the company in a report on Monday, October 19th. Citigroup cut their price target on shares of Regions Financial from $36.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, October 21st. Brean Capital upgraded shares of Regions Financial from a "neutral" rating to a "buy" rating and set a $33.00 target price for the company in a research note on Monday, October 19th. Finally, Evercore reiterated an "underperform" rating and issued a $28.00 target price on shares of Regions Financial in a research report on Tuesday, October 27th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has an average rating of "Hold" and a consensus target price of $31.00.

Regions Financial Company 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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