Brooklyn Investment Group Takes $174,000 Position in Regions Financial Co. (NYSE:RF)

Brooklyn Investment Group purchased a new position in shares of Regions Financial Co. (NYSE:RF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,468 shares of the bank’s stock, valued at approximately $174,000.

A number of other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position 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 valued at $648,269,000 after acquiring an additional 816,226 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Regions Financial by 7.4% in the second 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 during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Regions Financial by 13.3% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA lifted its holdings in Regions Financial by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after buying an additional 61,426 shares in the last quarter. Finally, FMR LLC boosted its position in Regions Financial by 8.4% in the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after buying an additional 241,838 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 29th. Finally, DA Davidson upped their price objective 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 investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Regions Financial Stock Down 0.2 %

Regions Financial stock opened at $27.26 on Thursday. Regions Financial Co. has a 1-year low of $15.82 and a 1-year high of $27.96. The business has a fifty day moving average price of $24.34 and a 200-day moving average price of $22.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $24.78 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.85 and a beta of 1.16.

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

Regions Financial Dividend Announcement

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 paid 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 yield of 3.67%. Regions Financial’s payout ratio is 56.50%.

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.