International Assets Investment Management LLC Has $2.31 Million Stake in Regions Financial Co. (NYSE:RF)

International Assets Investment Management LLC increased its position in shares of Regions Financial Co. (NYSE:RF) by 2,128.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,797 shares of the bank’s stock after purchasing an additional 94,363 shares during the period. International Assets Investment Management LLC’s holdings in Regions Financial were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after buying an additional 1,014,706 shares during the period. Cincinnati Insurance Co. acquired a new stake in Regions Financial during the first quarter worth approximately $74,606,000. Victory Capital Management Inc. grew its position 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 worth $59,421,000 after buying an additional 433,319 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in 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 period. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RF. Truist Financial increased their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group raised their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $27.00 to $28.00 in a report on Thursday. Evercore ISI lifted their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

Regions Financial Stock Performance

Shares of RF stock opened at $23.56 on Monday. The business’s 50-day moving average price is $23.09 and its 200-day moving average price is $21.18. Regions Financial Co. has a 12 month low of $14.60 and a 12 month high of $24.47. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.50 and a beta of 1.16.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) 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 18.78% and a return on equity of 12.60%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 earnings per share. Equities research analysts forecast that Regions Financial Co. will post 2.1 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. Regions Financial’s dividend payout ratio (DPR) 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.