Regions Financial Corporation $RF Stock Holdings Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in Regions Financial Corporation (NYSE:RF) by 79.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 947,440 shares of the bank’s stock after buying an additional 419,836 shares during the period. Pictet Asset Management Holding SA owned about 0.11% of Regions Financial worth $25,467,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RF. Russell Investments Group Ltd. raised its stake in Regions Financial by 8.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after purchasing an additional 165,527 shares during the period. Bank of America Corp DE purchased a new position in Regions Financial in the 2nd quarter worth approximately $219,068,000. Envestnet Asset Management Inc. lifted its holdings in Regions Financial by 433.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock worth $64,324,000 after purchasing an additional 1,730,874 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Regions Financial in the 2nd quarter worth approximately $26,043,000. Finally, Raiffeisen Bank International AG boosted its stake in Regions Financial by 7,509.2% in the 2nd quarter. Raiffeisen Bank International AG now owns 48,623 shares of the bank’s stock worth $1,472,000 after purchasing an additional 47,984 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

NYSE:RF opened at $28.65 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $24.32 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.16 and a beta of 1.01. Regions Financial Corporation has a 12 month low of $23.59 and a 12 month high of $32.47. The business’s 50-day moving average is $28.27 and its 200 day moving average is $28.71.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 16th. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. On average, equities research analysts forecast that Regions Financial Corporation will post 2.70 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, December 1st. Regions Financial’s dividend payout ratio is currently 47.06%.

Analyst Ratings Changes

RF has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Citigroup dropped their target price on shares of Regions Financial from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Truist Financial dropped their target price on shares of Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Finally, Stephens reaffirmed an “outperform” rating on shares of Regions Financial in a research note on Monday, October 19th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Regions Financial currently has an average rating of “Hold” and an average price target of $31.00.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a bank holding company headquartered in Birmingham, Alabama. Its principal subsidiary, Regions Bank, provides banking and related financial services to individuals, businesses and institutions. The company’s services include consumer and commercial banking, lending, mortgage banking, treasury and payment services, and wealth management. Regions also offers services such as investment and trust management through its wealth business. Regions traces its history to First Alabama Bancshares, established in 1971, and serves customers across the South and parts of the Midwest and Texas.