Cadence Bank Increases Holdings in Regions Financial Co. (NYSE:RF)

Cadence Bank increased its stake in shares of Regions Financial Co. (NYSE:RF) by 2.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 78,171 shares of the bank’s stock after purchasing an additional 1,834 shares during the period. Cadence Bank’s holdings in Regions Financial were worth $1,824,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RF. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $201,238,000 after buying an additional 1,014,706 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 acquiring an additional 979,597 shares during the period. Swedbank AB bought a new stake in Regions Financial during the 1st quarter worth approximately $19,322,000. Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in shares of Regions Financial by 1,533.3% during the 2nd quarter. AE Wealth Management LLC now owns 645,659 shares of the bank’s stock valued at $12,939,000 after purchasing an additional 606,129 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RF. Barclays increased their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Evercore ISI raised their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Truist Financial upped their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Morgan Stanley lifted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, DA Davidson boosted their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $27.30 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a one year low of $15.79 and a one year high of $27.96. The business’s 50 day simple moving average is $24.25 and its two-hundred day simple moving average is $21.96. The stock has a market capitalization of $24.81 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.16.

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

Regions Financial Dividend Announcement

The company also recently announced 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 of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.66%. 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.