Regions Financial Corporation $RF Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its stake in Regions Financial Corporation (NYSE:RF) by 23.3% in the 3rd quarter, Holdings Channel reports. The firm owned 195,186 shares of the bank’s stock after selling 59,206 shares during the quarter. Voya Investment Management LLC’s holdings in Regions Financial were worth $5,147,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI lifted its position in shares of Regions Financial by 34.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after acquiring an additional 15,820 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Regions Financial by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock worth $216,866,000 after acquiring an additional 325,382 shares during the period. Nordea Investment Management AB increased its stake in Regions Financial by 4.9% in the 2nd quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock valued at $9,913,000 after purchasing an additional 19,579 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in Regions Financial by 3.7% during the second quarter. Foster Victor Wealth Advisors LLC now owns 315,402 shares of the bank’s stock worth $7,768,000 after purchasing an additional 11,391 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in Regions Financial during the second quarter worth $419,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of NYSE RF opened at $27.57 on Friday. The company has a 50-day simple moving average of $25.49 and a 200-day simple moving average of $25.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $24.18 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.23 and a beta of 1.04. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.98.

Regions Financial (NYSE:RF) last announced its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The firm had revenue of $1.81 billion for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. On average, equities analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.265 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial’s payout ratio is currently 46.70%.

Regions Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on RF shares. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods raised their target price on shares of Regions Financial from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Finally, Cantor Fitzgerald initiated coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.21.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.