Shell Asset Management Co. lowered its position in Regions Financial Corp (NYSE:RF) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,013 shares of the bank’s stock after selling 10,713 shares during the quarter. Shell Asset Management Co.’s holdings in Regions Financial were worth $1,450,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Rational Advisors LLC increased its position in Regions Financial by 245.8% during the 3rd quarter. Rational Advisors LLC now owns 6,217 shares of the bank’s stock worth $114,000 after purchasing an additional 4,419 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Regions Financial during the 3rd quarter worth about $114,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Regions Financial by 8,481.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,522 shares of the bank’s stock worth $116,000 after purchasing an additional 6,446 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Regions Financial during the 2nd quarter worth about $116,000. Finally, Advisory Services Network LLC increased its position in Regions Financial by 61.6% during the 2nd quarter. Advisory Services Network LLC now owns 7,694 shares of the bank’s stock worth $141,000 after purchasing an additional 2,933 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.
A number of analysts recently commented on RF shares. Wedbush set a $22.00 price objective on Regions Financial and gave the stock a “buy” rating in a research report on Friday, September 7th. Raymond James decreased their price target on Regions Financial from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. ValuEngine lowered Regions Financial from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Argus started coverage on Regions Financial in a research note on Wednesday, November 28th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, B. Riley set a $20.00 price target on Regions Financial and gave the stock a “hold” rating in a research note on Monday, October 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $18.68.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Regions Financial had a return on equity of 10.15% and a net margin of 26.39%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts expect that Regions Financial Corp will post 1.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Thursday, December 6th. Regions Financial’s dividend payout ratio is currently 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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