Citigroup Inc. Increases Stock Position in Regions Financial Co. (NYSE:RF)

Citigroup Inc. raised its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,519,299 shares of the bank's stock after buying an additional 253,708 shares during the period. Citigroup Inc. owned about 0.17% of Regions Financial worth $35,445,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. 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 worth $648,269,000 after buying an additional 816,226 shares during the period. Dimensional Fund Advisors LP grew its stake in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock worth $285,562,000 after acquiring an additional 979,597 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $191,921,000 after acquiring an additional 61,426 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Regions Financial by 17.1% in the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank's stock worth $59,421,000 after purchasing an additional 433,319 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

NYSE:RF traded up $0.19 during mid-day trading on Monday, reaching $27.47. 11,129,366 shares of the stock were exchanged, compared to its average volume of 7,943,219. The stock has a market capitalization of $24.97 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.83 and a beta of 1.16. The company has a 50 day simple moving average of $24.05 and a 200-day simple moving average of $21.85. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 1 year low of $15.79 and a 1 year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations 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 firm earned $0.49 EPS. Analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.64%. Regions Financial's payout ratio is currently 56.50%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RF. Evercore ISI upped their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. Stephens raised Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price target for the company in a research report on Tuesday, October 29th. Truist Financial raised their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday, October 21st. Finally, Barclays upped their price target on Regions Financial from $22.00 to $25.00 and gave the stock an "underweight" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $26.41.

Regions Financial Company 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.