Stifel Financial Corp Lowers Stock Holdings in Regions Financial Co. (NYSE:RF)

Stifel Financial Corp reduced its stake in Regions Financial Co. (NYSE:RF) by 5.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 266,306 shares of the bank’s stock after selling 14,499 shares during the period. Stifel Financial Corp’s holdings in Regions Financial were worth $6,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in shares of Regions Financial by 1.5% in the 3rd quarter. Quantinno Capital Management LP now owns 341,024 shares of the bank’s stock valued at $7,956,000 after buying an additional 5,109 shares during the period. Quarry LP lifted its holdings in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after buying an additional 394 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $17,589,000. Investment Management Corp of Ontario lifted its holdings in shares of Regions Financial by 47.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 30,395 shares of the bank’s stock valued at $709,000 after buying an additional 9,800 shares during the period. Finally, Hilltop Holdings Inc. acquired a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $2,268,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RF has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Piper Sandler lifted their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. The Goldman Sachs Group lifted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.61.

Regions Financial Price Performance

Shares of NYSE:RF opened at $25.10 on Friday. The company has a market cap of $22.81 billion, a P/E ratio of 14.19, a P/E/G ratio of 2.64 and a beta of 1.19. 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 Co. has a 52 week low of $17.42 and a 52 week high of $27.96. The business has a fifty day simple moving average of $25.07 and a 200-day simple moving average of $22.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion during 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 for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Equities research analysts forecast that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 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.