12,709 Shares in Regions Financial Co. (NYSE:RF) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. acquired a new stake in shares of Regions Financial Co. (NYSE:RF) 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 (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 firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 earnings per share. Research analysts predict that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

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.

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.