12,580 Shares in Regions Financial Co. (NYSE:RF) Bought by Lane & Associates LLC

Lane & Associates LLC bought a new position in Regions Financial Co. (NYSE:RF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,580 shares of the bank’s stock, valued at approximately $293,000.

Other hedge funds have also modified their holdings of the company. Commerce Bank grew its holdings in shares of Regions Financial by 392.5% in the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after acquiring an additional 197,900 shares during the last quarter. Swedbank AB acquired a new position in shares of Regions Financial in the 1st quarter worth $19,322,000. National Pension Service grew its holdings in shares of Regions Financial by 6.3% in the 3rd quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after acquiring an additional 102,380 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Regions Financial by 47.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock worth $5,666,000 after buying an additional 89,045 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Regions Financial during the third quarter valued at $3,451,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Up 2.0 %

Regions Financial stock opened at $27.28 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50-day simple moving average is $24.05 and its 200-day simple moving average is $21.82. The firm has a market capitalization of $24.79 billion, a PE ratio of 15.41, a PEG ratio of 2.77 and a beta of 1.16. Regions Financial Co. has a 52 week low of $15.79 and a 52 week high of $27.32.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.67%. Regions Financial’s dividend payout ratio is 56.50%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RF. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. Morgan Stanley lifted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. DA Davidson lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial lifted 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. Finally, Wedbush raised their target price on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

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.