abrdn plc Reduces Stock Holdings in Regions Financial Co. (NYSE:RF)

abrdn plc reduced its position in Regions Financial Co. (NYSE:RF) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,451,237 shares of the bank’s stock after selling 153,158 shares during the quarter. abrdn plc owned approximately 0.27% of Regions Financial worth $56,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC raised its stake in Regions Financial by 1.8% in the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after acquiring an additional 429 shares during the period. CWM LLC increased its stake in shares of Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after purchasing an additional 480 shares in the last quarter. Resonant Capital Advisors LLC raised its position in shares of Regions Financial by 2.4% in the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after purchasing an additional 506 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Regions Financial by 2.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock worth $473,000 after buying an additional 545 shares during the period. Finally, IFG Advisory LLC grew its stake in Regions Financial by 1.8% in the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after buying an additional 546 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RF shares. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. DA Davidson increased their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Bank of America increased their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.06.

Regions Financial Trading Down 0.7 %

RF stock opened at $23.88 on Wednesday. The company has a market capitalization of $21.87 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 2.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a one year low of $13.95 and a one year high of $24.47. The company’s 50 day moving average price is $22.95 and its two-hundred day moving average price is $21.04.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 EPS 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 business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $0.49 EPS. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, analysts predict that Regions Financial Co. will post 2.05 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

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.