Lecap Asset Management Ltd. acquired a new stake in shares of Regions Financial Co. (NYSE:RF – Free Report) during the third quarter, HoldingsChannel.com reports. The firm acquired 12,709 shares of the bank’s stock, valued at approximately $297,000.
Several other institutional investors have also modified their holdings of the stock. Private Advisor Group LLC raised its stake in shares of Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after acquiring an additional 429 shares during the period. GAM Holding AG purchased a new stake in Regions Financial in the 3rd quarter worth about $1,236,000. Eastern Bank purchased a new stake in Regions Financial in the 3rd quarter worth about $81,000. Signaturefd LLC lifted its stake in Regions Financial by 2.6% in the third quarter. Signaturefd LLC now owns 24,073 shares of the bank’s stock worth $562,000 after purchasing an additional 601 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Regions Financial by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock valued at $473,000 after buying an additional 545 shares during the period. 79.39% of the stock is owned by institutional investors.
Regions Financial Price Performance
Shares of RF stock opened at $23.75 on Friday. The company has a market cap of $21.75 billion, a P/E ratio of 12.91, a PEG ratio of 2.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50-day moving average is $22.87 and its 200 day moving average is $20.98. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $24.47.
Regions Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is presently 54.35%.
Wall Street Analysts Forecast Growth
RF has been the subject of a number of research analyst reports. Truist Financial raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their target price for the company from $24.00 to $26.00 in a research note on Thursday. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday. Wedbush boosted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Royal Bank of Canada raised 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.35.
View Our Latest Stock Report on Regions Financial
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.
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