Huntington National Bank Reduces Stock Holdings in Regions Financial Co. (NYSE:RF)

Huntington National Bank lessened its stake in Regions Financial Co. (NYSE:RF) by 7.3% in the third quarter, Holdings Channel reports. The fund owned 99,599 shares of the bank’s stock after selling 7,856 shares during the quarter. Huntington National Bank’s holdings in Regions Financial were worth $2,324,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RF. American National Bank & Trust boosted its stake in shares of 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 during the period. EntryPoint Capital LLC purchased a new position in Regions Financial in the 1st quarter valued at about $26,000. Quarry LP grew its stake in shares of 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 acquiring an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Regions Financial during the second quarter worth about $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Up 0.3 %

Shares of NYSE RF opened at $26.36 on Friday. The company has a market cap of $23.96 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. The stock’s 50 day simple moving average is $23.53 and its 200 day simple moving average is $21.53. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 12-month low of $15.79 and a 12-month high of $26.73.

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). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm posted $0.49 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. Equities research analysts expect that Regions Financial Co. will post 2.1 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.79%. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RF. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Morgan Stanley raised their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Barclays upped their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Finally, Truist Financial upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $26.18.

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.