Cinctive Capital Management LP Reduces Stock Position in Regions Financial Co. (NYSE:RF)

Cinctive Capital Management LP decreased its position in Regions Financial Co. (NYSE:RF) by 81.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,027 shares of the bank’s stock after selling 440,459 shares during the quarter. Cinctive Capital Management LP’s holdings in Regions Financial were worth $2,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Allspring Global Investments Holdings LLC lifted its stake in shares of Regions Financial by 13.3% during 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 buying an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 979,597 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 816,226 shares during the period. AE Wealth Management LLC boosted its holdings in shares of Regions Financial by 1,533.3% during the second quarter. AE Wealth Management LLC now owns 645,659 shares of the bank’s stock worth $12,939,000 after purchasing an additional 606,129 shares during the last quarter. Finally, Interval Partners LP purchased a new stake in shares of Regions Financial in the second quarter valued at $11,095,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Barclays raised their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Truist Financial upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and a consensus target price of $26.71.

Regions Financial Price Performance

Shares of NYSE RF opened at $26.55 on Tuesday. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 2.82 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $16.86 and a 1-year high of $27.96. The business has a 50-day moving average of $24.58 and a 200-day moving average of $22.16.

Regions Financial (NYSE:RF) last released its quarterly 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. On average, equities analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Regions Financial 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.