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

Voya Investment Management LLC lowered its position in Regions Financial Corporation (NYSE:RF) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Regions Financial by 34.7% in 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 last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Regions Financial by 3.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock valued at $216,866,000 after purchasing an additional 325,382 shares in the last quarter. Nordea Investment Management AB increased its stake in Regions Financial by 4.9% in the second 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 during 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 in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in Regions Financial during the second quarter worth approximately $419,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Up 0.1%

NYSE:RF opened at $27.57 on Friday. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.98. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $25.49 and its 200-day simple moving average is $25.35. The firm has a market cap of $24.18 billion, a P/E ratio of 12.15, a PEG ratio of 1.23 and a beta of 1.04.

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

Regions Financial declared that its board has initiated a stock buyback program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to buy up to 12.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Regions Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RF. Evercore ISI increased their target price on shares of Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Citigroup raised their price objective on Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley set a $32.00 target price on Regions Financial in a report on Monday, September 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Monday. Finally, Truist Financial lifted their price target on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.21.

About Regions Financial

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.