Financial Counselors Inc. Grows Position in Regions Financial Co. (NYSE:RF)

Financial Counselors Inc. boosted its holdings in Regions Financial Co. (NYSE:RF) by 0.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 649,633 shares of the bank’s stock after acquiring an additional 891 shares during the quarter. Financial Counselors Inc.’s holdings in Regions Financial were worth $15,156,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in 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 valued at $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Swedbank AB acquired a new stake in Regions Financial in the first quarter valued at $19,322,000. Charles Schwab Investment Management Inc. grew its holdings in Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Finally, AE Wealth Management LLC grew its holdings in Regions Financial by 1,533.3% in the second 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 during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RF. DA Davidson upped their target price on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company increased their price objective on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. The Goldman Sachs Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. Finally, Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Regions Financial Stock Performance

Regions Financial stock opened at $27.26 on Thursday. The stock’s 50-day moving average is $24.34 and its 200-day moving average is $22.00. The company has a market cap of $24.78 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.16. 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 12 month low of $15.82 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last released 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 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 business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. Equities 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.67%. Regions Financial’s dividend payout ratio (DPR) is 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.