Regions Financial Co. (NYSE:RF) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in shares of Regions Financial Co. (NYSE:RF) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,600 shares of the bank’s stock after buying an additional 10,026 shares during the quarter. CIBC Asset Management Inc’s holdings in Regions Financial were worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RF. Dimensional Fund Advisors LP raised its holdings in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after acquiring an additional 979,597 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Regions Financial by 17.1% in the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock worth $59,421,000 after buying an additional 433,319 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Regions Financial by 12.9% during the second quarter. Wedge Capital Management L L P NC now owns 2,343,629 shares of the bank’s stock valued at $46,966,000 after buying an additional 266,934 shares in the last quarter. Finally, National Pension Service raised its position in Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after buying an additional 102,380 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RF. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Royal Bank of Canada increased their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Bank of America boosted their price target on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and an average price target of $26.18.

Regions Financial Stock Down 0.1 %

Shares of RF stock opened at $26.33 on Tuesday. Regions Financial Co. has a one year low of $15.79 and a one year high of $26.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a fifty day moving average price of $23.61 and a 200 day moving average price of $21.61. The stock has a market cap of $23.93 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16.

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 the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion for 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. Analysts predict that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.80%. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

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.