Lane & Associates LLC Purchases New Holdings in Regions Financial Co. (NYSE:RF)

Lane & Associates LLC purchased a new stake in shares of Regions Financial Co. (NYSE:RF) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,580 shares of the bank’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commerce Bank increased its stake in Regions Financial by 392.5% during the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after acquiring an additional 197,900 shares during the period. Swedbank AB acquired a new stake in Regions Financial during the first quarter valued at approximately $19,322,000. National Pension Service boosted its holdings 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 purchasing an additional 102,380 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Regions Financial by 47.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock valued at $5,666,000 after purchasing an additional 89,045 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Regions Financial during the third quarter valued at approximately $3,451,000. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RF shares. Wedbush lifted their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 21st. Evercore ISI lifted their price objective on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group lifted their price objective on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and a consensus target price of $26.41.

Regions Financial Stock Up 2.0 %

NYSE:RF opened at $27.28 on Friday. The stock’s fifty day moving average price is $24.05 and its two-hundred day moving average price is $21.82. Regions Financial Co. has a 52-week low of $15.79 and a 52-week high of $27.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $24.79 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 2.77 and a beta of 1.16.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company posted $0.49 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is 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.