Highland Capital Management LLC Cuts Position in Regions Financial Co. (NYSE:RF)

Highland Capital Management LLC reduced its stake in shares of Regions Financial Co. (NYSE:RF) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,000 shares of the bank’s stock after selling 1,600 shares during the period. Highland Capital Management LLC’s holdings in Regions Financial were worth $910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. grew its position in Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after buying an additional 58,739 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of Regions Financial by 1,075.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after acquiring an additional 40,972 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Regions Financial by 30.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after purchasing an additional 98,003 shares in the last quarter. Swedbank AB acquired a new position in Regions Financial during the first quarter worth $19,322,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Regions Financial during the first quarter worth $33,829,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Down 1.1 %

Shares of RF opened at $23.50 on Friday. Regions Financial Co. has a fifty-two week low of $13.95 and a fifty-two week high of $24.47. The company’s fifty day moving average is $22.91 and its two-hundred day moving average is $21.00. The firm has a market cap of $21.51 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last issued 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). The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 EPS. Analysts forecast that Regions Financial Co. will post 2.05 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently declared 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 yield of 4.26%. Regions Financial’s payout ratio is 56.50%.

Analysts Set New Price Targets

RF has been the subject of several research reports. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday. Truist Financial increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday. Citigroup increased their target price on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Wedbush boosted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Hold” and an average target price of $24.35.

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.