Raymond James & Associates Sells 102,279 Shares of Regions Financial Co. (NYSE:RF)

Raymond James & Associates lessened its stake in Regions Financial Co. (NYSE:RF) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,007,309 shares of the bank’s stock after selling 102,279 shares during the quarter. Raymond James & Associates owned approximately 0.11% of Regions Financial worth $23,501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased 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 purchasing an additional 979,597 shares during the last quarter. Cincinnati Insurance Co. acquired a new position in Regions Financial during the first quarter worth approximately $74,606,000. Victory Capital Management Inc. raised 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 valued at $59,421,000 after buying an additional 433,319 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Regions Financial by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,822,420 shares of the bank’s stock worth $59,384,000 after acquiring an additional 171,280 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Regions Financial by 30.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,577,350 shares of the bank’s stock worth $54,184,000 after acquiring an additional 607,799 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RF has been the subject of several research reports. Barclays raised their price target on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Monday. Morgan Stanley increased their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday. Wedbush upped their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday. Finally, Wells Fargo & Company lifted their target price on Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial has an average rating of “Hold” and a consensus target price of $24.35.

Regions Financial Trading Up 0.5 %

Shares of RF stock opened at $23.75 on Friday. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $24.47. The stock’s fifty day moving average price is $22.87 and its two-hundred day moving average price is $20.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $21.75 billion, a PE ratio of 12.91, a P/E/G ratio of 2.80 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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 business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. Equities analysts predict that Regions Financial Co. will post 2.02 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

About Regions Financial

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.