Regions Financial Co. (NYSE:RF) Shares Acquired by Citigroup Inc.

Citigroup Inc. boosted its holdings in Regions Financial Co. (NYSE:RF) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,519,299 shares of the bank’s stock after buying an additional 253,708 shares during the quarter. Citigroup Inc. owned 0.17% of Regions Financial worth $35,445,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after acquiring an additional 816,226 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Regions Financial by 7.4% in the 2nd 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 period. 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 purchasing an additional 1,014,706 shares in the last quarter. Massachusetts Financial Services Co. MA raised 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 worth $191,921,000 after buying an additional 61,426 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Regions Financial by 17.1% during the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock valued at $59,421,000 after buying an additional 433,319 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $27.28 on Monday. Regions Financial Co. has a 1-year low of $15.79 and a 1-year high of $27.32. The firm has a fifty day simple moving average of $24.05 and a 200-day simple moving average of $21.84. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $24.79 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 2.77 and a beta of 1.16.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. Regions Financial’s payout ratio is 56.50%.

Analyst Upgrades and Downgrades

RF has been the topic of several analyst reports. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. DA Davidson increased 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. Morgan Stanley raised their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Barclays upped their price target on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

Regions Financial Company 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.