Massachusetts Financial Services Co. MA Acquires 61,426 Shares of Regions Financial Co. (NYSE:RF)

Massachusetts Financial Services Co. MA boosted its holdings in Regions Financial Co. (NYSE:RF) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 8,226,353 shares of the bank’s stock after acquiring an additional 61,426 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Regions Financial were worth $191,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RF. Bessemer Group Inc. increased its position in shares of Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock valued at $1,675,000 after buying an additional 58,739 shares during the period. EntryPoint Capital LLC purchased a new stake in Regions Financial in the 1st quarter worth approximately $26,000. CreativeOne Wealth LLC boosted its holdings in Regions Financial by 68.6% in the 1st quarter. CreativeOne Wealth LLC now owns 33,353 shares of the bank’s stock valued at $702,000 after purchasing an additional 13,568 shares during the period. Quadrature Capital Ltd grew its position in shares of Regions Financial by 330.4% during the 1st quarter. Quadrature Capital Ltd now owns 68,032 shares of the bank’s stock valued at $1,431,000 after purchasing an additional 52,226 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Regions Financial by 2.2% in the first quarter. 1832 Asset Management L.P. now owns 116,701 shares of the bank’s stock worth $2,455,000 after purchasing an additional 2,520 shares during the period. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley boosted their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI upped their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Wedbush lifted their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Barclays raised their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

Regions Financial Stock Up 2.0 %

RF opened at $27.29 on Friday. Regions Financial Co. has a 12 month low of $15.79 and a 12 month high of $27.32. 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 business’s 50-day moving average price is $23.95 and its 200-day moving average price is $21.77. The company has a market cap of $24.80 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.72 and a beta of 1.16.

Regions Financial (NYSE:RF) last announced 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). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. On average, equities analysts expect that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. Regions Financial’s dividend payout ratio is currently 56.50%.

About Regions Financial

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.