Huntington National Bank Cuts Position in Regions Financial Co. (NYSE:RF)

Huntington National Bank lowered its stake in shares of Regions Financial Co. (NYSE:RF) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,599 shares of the bank’s stock after selling 7,856 shares during the period. Huntington National Bank’s holdings in Regions Financial were worth $2,324,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chase Investment Counsel Corp boosted its stake in shares of Regions Financial by 5.7% during the 3rd quarter. Chase Investment Counsel Corp now owns 13,551 shares of the bank’s stock worth $316,000 after acquiring an additional 733 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in Regions Financial by 87.1% during the third quarter. Aptus Capital Advisors LLC now owns 67,634 shares of the bank’s stock worth $1,578,000 after purchasing an additional 31,478 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Regions Financial by 23.5% in the third quarter. Apollon Wealth Management LLC now owns 20,287 shares of the bank’s stock valued at $473,000 after purchasing an additional 3,863 shares during the last quarter. Versor Investments LP purchased a new position in shares of Regions Financial in the third quarter valued at $350,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Regions Financial by 413.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,708 shares of the bank’s stock worth $87,000 after buying an additional 2,986 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.3 %

Shares of NYSE RF opened at $26.36 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $23.96 billion, a PE ratio of 14.89, a P/E/G ratio of 2.73 and a beta of 1.16. The firm has a fifty day moving average of $23.53 and a 200-day moving average of $21.53. Regions Financial Co. has a 52-week low of $15.79 and a 52-week high of $26.73.

Regions Financial (NYSE:RF) last posted 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 analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. On average, analysts anticipate that Regions Financial Co. will post 2.1 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given 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 3.79%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RF shares. Truist Financial raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 21st. Citigroup raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company increased their target price on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday. The Goldman Sachs Group raised their price target on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, DA Davidson upped their price objective on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.18.

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.