71,121 Shares in Regions Financial Co. (NYSE:RF) Purchased by DRW Securities LLC

DRW Securities LLC bought a new position in shares of Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 71,121 shares of the bank’s stock, valued at approximately $1,659,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 3.0% during the third 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in Regions Financial by 7.4% during 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 lifted its stake in Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Regions Financial by 0.8% in 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 acquiring an additional 61,426 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Regions Financial by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock valued at $59,421,000 after acquiring an additional 433,319 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 0.7 %

RF stock opened at $27.47 on Tuesday. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $27.96. The business’s 50 day moving average price is $24.16 and its two-hundred day moving average price is $21.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.83 and a beta of 1.16.

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

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued 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 dividend yield of 3.64%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RF shares. Evercore ISI boosted their target price on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group boosted their target price on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their target price 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. Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Thursday, October 24th. Finally, Barclays boosted their target price on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.41.

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.