Assetmark Inc. Acquires 1,184 Shares of Regions Financial Co. (NYSE:RF)

Assetmark Inc. boosted its holdings in shares of Regions Financial Co. (NYSE:RF) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,637 shares of the bank’s stock after buying an additional 1,184 shares during the period. Assetmark Inc.’s holdings in Regions Financial were worth $435,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RF. Bessemer Group Inc. raised its holdings in shares of Regions Financial by 281.7% in the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after acquiring an additional 58,739 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Regions Financial by 1,075.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after purchasing an additional 40,972 shares in the last quarter. Swedbank AB purchased a new stake in shares of Regions Financial in the first quarter worth approximately $19,322,000. National Pension Service lifted its holdings in shares of Regions Financial by 6.3% in the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after purchasing an additional 102,380 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Regions Financial by 47.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock valued at $5,666,000 after buying an additional 89,045 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wedbush increased their price target on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Truist Financial increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. Bank of America upped their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.18.

Regions Financial Price Performance

Shares of NYSE RF opened at $26.36 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $23.61 and a two-hundred day simple moving average of $21.58. Regions Financial Co. has a 1-year low of $15.79 and a 1-year high of $26.73. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.79%. Regions Financial’s payout ratio is 56.50%.

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.