CIBC Asset Administration Inc raised its place in shares of Areas Monetary Co. (NYSE:RF – Free Report) by 6.8% within the third quarter, HoldingsChannel.com experiences. The institutional investor owned 157,600 shares of the financial institution’s inventory after buying a further 10,026 shares in the course of the interval. CIBC Asset Administration Inc’s holdings in Areas Monetary had been price $3,677,000 on the finish of the latest reporting interval.
Different massive buyers have additionally purchased and bought shares of the corporate. Dimensional Fund Advisors LP grew its holdings in shares of Areas Monetary by 7.4% in the course of the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the financial institution’s inventory price $285,562,000 after buying a further 979,597 shares over the last quarter. Allspring International Investments Holdings LLC grew its holdings in Areas Monetary by 13.3% in the course of the third quarter. Allspring International Investments Holdings LLC now owns 8,625,734 shares of the financial institution’s inventory price $201,238,000 after buying a further 1,014,706 shares over the last quarter. Victory Capital Administration Inc. raised its stake in shares of Areas Monetary by 17.1% within the second quarter. Victory Capital Administration Inc. now owns 2,965,126 shares of the financial institution’s inventory price $59,421,000 after buying a further 433,319 shares over the last quarter. Wedge Capital Administration L L P NC lifted its place in shares of Areas Monetary by 12.9% in the course of the second quarter. Wedge Capital Administration L L P NC now owns 2,343,629 shares of the financial institution’s inventory price $46,966,000 after buying a further 266,934 shares within the final quarter. Lastly, Nationwide Pension Service grew its stake in shares of Areas Monetary by 6.3% in the course of the third quarter. Nationwide Pension Service now owns 1,722,024 shares of the financial institution’s inventory valued at $40,175,000 after buying a further 102,380 shares over the last quarter. 79.39% of the inventory is at the moment owned by institutional buyers.
Areas Monetary Inventory Efficiency
RF opened at $26.33 on Tuesday. The corporate has a fast ratio of 0.83, a present ratio of 0.84 and a debt-to-equity ratio of 0.35. The inventory has a market cap of $23.93 billion, a price-to-earnings ratio of 14.89, a PEG ratio of two.76 and a beta of 1.16. Areas Monetary Co. has a 12-month low of $15.79 and a 12-month excessive of $26.73. The enterprise has a 50 day transferring common of $23.61 and a 200-day transferring common of $21.61.
Areas Monetary (NYSE:RF – Get Free Report) final launched its quarterly earnings knowledge on Friday, October 18th. The financial institution reported $0.49 EPS for the quarter, lacking analysts’ consensus estimates of $0.53 by ($0.04). The corporate had income of $1.79 billion for the quarter, in comparison with the consensus estimate of $1.80 billion. Areas Monetary had a return on fairness of 12.60% and a internet margin of 18.78%. The corporate’s income for the quarter was down 3.7% in comparison with the identical quarter final 12 months. Throughout the identical interval final 12 months, the agency earned $0.49 earnings per share. On common, equities analysis analysts count on that Areas Monetary Co. will submit 2.1 earnings per share for the present 12 months.
Areas Monetary Dividend Announcement
The corporate additionally not too long ago declared a quarterly dividend, which can be paid on Thursday, January 2nd. Buyers of file on Monday, December 2nd can be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of three.80%. Areas Monetary’s payout ratio is at the moment 56.50%.
Wall Road Analyst Weigh In
A lot of analysis analysts have commented on RF shares. Keefe, Bruyette & Woods upgraded Areas Monetary from a “market carry out” ranking to an “outperform” ranking and elevated their worth goal for the corporate from $27.00 to $28.00 in a analysis report on Thursday, October thirty first. DA Davidson raised their goal worth on shares of Areas Monetary from $27.00 to $29.00 and gave the corporate a “purchase” ranking in a analysis word on Monday, October twenty first. StockNews.com raised shares of Areas Monetary from a “promote” ranking to a “maintain” ranking in a analysis word on Friday, October twenty fifth. Barclays raised their worth goal on shares of Areas Monetary from $22.00 to $25.00 and gave the corporate an “underweight” ranking in a analysis word on Monday, October twenty first. Lastly, Morgan Stanley upped their goal worth on shares of Areas Monetary from $25.00 to $28.00 and gave the corporate an “obese” ranking in a analysis report on Tuesday, July thirtieth. One funding analyst has rated the inventory with a promote ranking, six have given a maintain ranking and eleven have issued a purchase ranking to the corporate’s inventory. Based mostly on knowledge from MarketBeat.com, Areas Monetary at the moment has a median ranking of “Reasonable Purchase” and a median worth goal of $26.18.
Learn Our Newest Inventory Evaluation on RF
Areas Monetary Firm Profile
Areas Monetary Company, a monetary holding firm, supplies banking and bank-related companies to particular person and company prospects. It operates by three segments: Company Financial institution, Client Financial institution, and Wealth Administration. The Company Financial institution phase affords business banking companies, similar to business and industrial, business actual property, and investor actual property lending; gear lease financing; deposit merchandise; and securities underwriting and placement, mortgage syndication and placement, international alternate, derivatives, merger and acquisition, and different advisory companies.
Really useful Tales
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