Contravisory Investment Management Inc. Invests $528,000 in Regions Financial Co. (NYSE:RF)

Contravisory Investment Management Inc. acquired a new stake in Regions Financial Co. (NYSE:RF) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 22,619 shares of the bank’s stock, valued at approximately $528,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC raised its position in Regions Financial by 163.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,483 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Regions Financial during the 3rd quarter valued at $207,000. CWM LLC increased its stake in shares of Regions Financial by 1.1% in the 3rd 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. Atomi Financial Group Inc. raised its holdings in Regions Financial by 16.0% in the 3rd quarter. Atomi Financial Group Inc. now owns 30,393 shares of the bank’s stock worth $709,000 after purchasing an additional 4,195 shares during the period. Finally, GAMMA Investing LLC lifted its position in Regions Financial by 32.3% during the third quarter. GAMMA Investing LLC now owns 20,909 shares of the bank’s stock valued at $488,000 after purchasing an additional 5,110 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the topic of several recent analyst reports. Bank of America raised their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and raised their price target for the company from $23.00 to $28.00 in a report on Tuesday, September 24th. Wells Fargo & Company raised their price target on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Truist Financial raised their price target on Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.86.

Regions Financial Price Performance

Shares of RF stock opened at $23.04 on Friday. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 2.80 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The stock has a fifty day simple moving average of $22.26 and a two-hundred day simple moving average of $20.74.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. On average, analysts predict that Regions Financial Co. will post 2.02 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 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.