First Horizon Advisors Inc. Lowers Stock Holdings in Regions Financial Co. (NYSE:RF)

First Horizon Advisors Inc. reduced its position in Regions Financial Co. (NYSE:RF) by 9.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,394 shares of the bank’s stock after selling 668 shares during the quarter. First Horizon Advisors Inc.’s holdings in Regions Financial were worth $149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Regions Financial during the 1st quarter valued at about $26,000. American National Bank & Trust raised its stake in Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,114 shares in the last quarter. Quarry LP lifted its position in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial in the 2nd quarter worth $32,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF opened at $27.28 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock has a market cap of $24.79 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.77 and a beta of 1.16. The business’s 50 day moving average price is $24.05 and its 200-day moving average price is $21.82. Regions Financial Co. has a 52 week low of $15.79 and a 52 week high of $27.32.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $0.49 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. Regions Financial’s dividend payout ratio is currently 56.50%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Wedbush increased their target price on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Stephens raised shares of 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. Evercore ISI boosted their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Citigroup boosted their target price on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. One 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.com, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.41.

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.