Bank of Montreal Can Sells 62,804 Shares of Regions Financial Co. (NYSE:RF)

Bank of Montreal Can lowered its holdings in shares of Regions Financial Co. (NYSE:RF) by 1.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,676,184 shares of the bank’s stock after selling 62,804 shares during the period. Bank of Montreal Can’s holdings in Regions Financial were worth $107,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after buying an additional 816,226 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Regions Financial by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after purchasing an additional 61,426 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Regions Financial by 17.1% in the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock worth $59,421,000 after buying an additional 433,319 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $27.30 on Wednesday. The company has a 50 day simple moving average of $24.25 and a two-hundred day simple moving average of $21.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $24.81 billion, a P/E ratio of 15.42, a PEG ratio of 2.83 and a beta of 1.16. Regions Financial Co. has a 1-year low of $15.79 and a 1-year high of $27.96.

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

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Analyst Ratings Changes

RF has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, October 24th. Finally, Evercore ISI raised their price target on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

Regions Financial Company 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.