Russell Investments Group Ltd. lessened its stake in Regions Financial Corp (NYSE:RF) by 27.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,002,875 shares of the bank’s stock after selling 384,876 shares during the period. Russell Investments Group Ltd. owned 0.09% of Regions Financial worth $18,442,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Regions Financial by 52.7% during the 2nd quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock valued at $351,038,000 after purchasing an additional 6,813,530 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Regions Financial by 4.6% during the 2nd quarter. Bank of Montreal Can now owns 17,179,629 shares of the bank’s stock valued at $305,453,000 after purchasing an additional 754,073 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Regions Financial by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 12,496,685 shares of the bank’s stock valued at $222,190,000 after purchasing an additional 95,653 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Regions Financial by 135.1% during the 2nd quarter. Janus Henderson Group PLC now owns 7,807,580 shares of the bank’s stock valued at $138,818,000 after purchasing an additional 4,486,512 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Regions Financial by 1.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,047,523 shares of the bank’s stock valued at $107,525,000 after purchasing an additional 61,567 shares in the last quarter. Hedge funds and other institutional investors own 73.85% of the company’s stock.
Several research firms have recently weighed in on RF. Wedbush set a $22.00 price objective on shares of Regions Financial and gave the company a “buy” rating in a research report on Friday, September 7th. Vining Sparks restated a “buy” rating and set a $22.00 price objective on shares of Regions Financial in a research report on Tuesday, October 9th. B. Riley set a $20.00 price objective on shares of Regions Financial and gave the company a “hold” rating in a research report on Monday, October 15th. Finally, Raymond James upgraded shares of Regions Financial from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, October 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.91.
Regions Financial (NYSE:RF) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Regions Financial had a return on equity of 10.15% and a net margin of 26.39%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that Regions Financial Corp will post 1.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Thursday, December 6th. Regions Financial’s payout ratio is 56.00%.
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Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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