James Investment Research Inc. Purchases New Position in Regions Financial Corporation $RF

James Investment Research Inc. acquired a new position in shares of Regions Financial Corporation (NYSE:RF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 137,764 shares of the bank’s stock, valued at approximately $3,703,000.

Several other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in Regions Financial by 8.5% in the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after acquiring an additional 165,527 shares during the last quarter. Bank of America Corp DE acquired a new position in Regions Financial in the second quarter valued at $219,068,000. Envestnet Asset Management Inc. boosted its stake in Regions Financial by 433.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock valued at $64,324,000 after acquiring an additional 1,730,874 shares in the last quarter. Raiffeisen Bank International AG grew its holdings in shares of Regions Financial by 7,509.2% during the second 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 last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Regions Financial during the second quarter worth about $26,043,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.3%

Shares of Regions Financial stock opened at $28.47 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $24.26 billion, a P/E ratio of 11.17, a PEG ratio of 1.15 and a beta of 1.05. Regions Financial Corporation has a 1 year low of $23.59 and a 1 year high of $32.47. The company’s fifty day moving average is $28.76 and its two-hundred day moving average is $29.04.

Regions Financial (NYSE:RF) last announced its 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. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Regions Financial Corporation will post 2.70 earnings per share for the current year.

Regions Financial Dividend Announcement

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

Wall Street Analyst Weigh In

RF has been the topic of a number of research analyst reports. Evercore reiterated an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a research report on Monday, July 6th. Truist Financial decreased their target price on Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Brean Capital upgraded Regions Financial from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Monday, October 19th. Finally, Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research report on Friday, September 18th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.12.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.