Oppenheimer & Co. Inc. Sells 13,828 Shares of Regions Financial Co. (NYSE:RF)

Oppenheimer & Co. Inc. lowered its stake in Regions Financial Co. (NYSE:RF) by 45.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,554 shares of the bank’s stock after selling 13,828 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Regions Financial were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RF. The Goldman Sachs Group boosted their price target on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Truist Financial increased their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 29th. Barclays boosted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.41.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $26.74 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. Regions Financial Co. has a 52 week low of $15.79 and a 52 week high of $26.92. The firm has a fifty day simple moving average of $23.85 and a two-hundred day simple moving average of $21.74. The stock has a market capitalization of $24.30 billion, a P/E ratio of 15.11, a PEG ratio of 2.72 and a beta of 1.16.

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). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.74%. Regions Financial’s dividend payout ratio is currently 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.