BIP Wealth LLC Grows Position in Regions Financial Co. (NYSE:RF)

BIP Wealth LLC grew its position in shares of Regions Financial Co. (NYSE:RF) by 21.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,567 shares of the bank’s stock after buying an additional 2,562 shares during the period. BIP Wealth LLC’s holdings in Regions Financial were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RF. Dimensional Fund Advisors LP raised its stake in shares of Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after buying an additional 979,597 shares during the period. Allspring Global Investments Holdings LLC raised its position in 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 worth $201,238,000 after acquiring an additional 1,014,706 shares during the period. Victory Capital Management Inc. lifted its holdings in Regions Financial by 17.1% during the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock valued at $59,421,000 after purchasing an additional 433,319 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Regions Financial by 12.9% in the second quarter. Wedge Capital Management L L P NC now owns 2,343,629 shares of the bank’s stock valued at $46,966,000 after purchasing an additional 266,934 shares during the period. Finally, National Pension Service increased its stake in shares of Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after purchasing an additional 102,380 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RF has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Truist Financial lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a report on Tuesday, October 29th. Finally, Wells Fargo & Company upped their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.18.

Regions Financial Trading Down 0.3 %

NYSE RF opened at $26.26 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $23.87 billion, a P/E ratio of 14.84, a PEG ratio of 2.76 and a beta of 1.16. The firm’s 50-day moving average is $23.69 and its two-hundred day moving average is $21.66. Regions Financial Co. has a 12 month low of $15.79 and a 12 month high of $26.73.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. Regions Financial’s dividend payout ratio is presently 56.50%.

Regions Financial 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.