Holocene Advisors LP Makes New $8.97 Million Investment in Regions Financial Co. (NYSE:RF)

Holocene Advisors LP bought a new position in Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 384,412 shares of the bank’s stock, valued at approximately $8,968,000.

Several other hedge funds have also made changes to their positions in RF. Citigroup Inc. boosted its position in Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after purchasing an additional 253,708 shares in the last quarter. Commerce Bank boosted its position in Regions Financial by 392.5% during the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after purchasing an additional 197,900 shares in the last quarter. National Pension Service boosted its position in Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after purchasing an additional 102,380 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Regions Financial during the third quarter valued at about $3,451,000. Finally, DRW Securities LLC bought a new stake in Regions Financial during the third quarter valued at about $1,659,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

NYSE RF opened at $26.35 on Wednesday. The stock’s fifty day moving average is $24.65 and its two-hundred day moving average is $22.20. The firm has a market capitalization of $23.94 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 2.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a fifty-two week low of $16.86 and a fifty-two week high of $27.96.

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

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.80%. Regions Financial’s dividend payout ratio is presently 56.50%.

Analyst Ratings Changes

RF has been the topic of a number of recent research reports. Truist Financial raised 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. DA Davidson raised their price objective on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Thursday, October 24th. Wells Fargo & Company lifted their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Finally, Wedbush lifted their price target on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One equities 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 stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $27.18.

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.