Regions Financial Corporation $RF Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its holdings in shares of Regions Financial Corporation (NYSE:RF) by 79.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,755 shares of the bank’s stock after selling 67,724 shares during the quarter. Candriam S.C.A.’s holdings in Regions Financial were worth $479,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. StoneX Group Inc. lifted its position in shares of Regions Financial by 19.2% during the third quarter. StoneX Group Inc. now owns 10,432 shares of the bank’s stock worth $287,000 after purchasing an additional 1,681 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Regions Financial by 79.6% during the third quarter. Pictet Asset Management Holding SA now owns 947,440 shares of the bank’s stock valued at $25,467,000 after purchasing an additional 419,836 shares during the period. Parallel Advisors LLC grew its holdings in shares of Regions Financial by 17.7% in the third quarter. Parallel Advisors LLC now owns 13,132 shares of the bank’s stock worth $353,000 after purchasing an additional 1,973 shares during the last quarter. Abacus Wealth Partners LLC grew its holdings in shares of Regions Financial by 6.5% in the third quarter. Abacus Wealth Partners LLC now owns 11,528 shares of the bank’s stock worth $310,000 after purchasing an additional 707 shares during the last quarter. Finally, Asset One Wealth Management LLC bought a new position in shares of Regions Financial in the third quarter worth about $246,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 0.2%

NYSE:RF opened at $28.65 on Thursday. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.16 and a beta of 1.01. Regions Financial Corporation has a 52 week low of $23.59 and a 52 week high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $28.27 and a 200 day moving average of $28.71.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 16th. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.70 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

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

Wall Street Analyst Weigh In

RF has been the topic of several recent analyst reports. Robert W. Baird raised shares of Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Friday, September 18th. Evercore reissued an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a research report on Tuesday, October 27th. Jefferies Financial Group restated a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Royal Bank Of Canada dropped their target price on shares of Regions Financial from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Finally, Citigroup reduced their target price on shares of Regions Financial from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.