Raymond James Trust N.A. Sells 97,865 Shares of Regions Financial Co. (NYSE:RF)

Raymond James Trust N.A. decreased its holdings in shares of Regions Financial Co. (NYSE:RF) by 67.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,839 shares of the bank’s stock after selling 97,865 shares during the period. Raymond James Trust N.A.’s holdings in Regions Financial were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $27.28 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $24.05 and its two-hundred day moving average is $21.84. Regions Financial Co. has a 52 week low of $15.79 and a 52 week high of $27.32. The company has a market capitalization of $24.79 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RF. Wells Fargo & Company upped their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Wedbush raised their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Truist Financial boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Citigroup lifted their target price on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.41.

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.