Verdence Capital Advisors LLC Acquires New Holdings in Regions Financial Co. (NYSE:RF)

Verdence Capital Advisors LLC bought a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 28,036 shares of the bank's stock, valued at approximately $659,000.

Several other large investors also recently modified their holdings of RF. Citigroup Inc. boosted its stake in shares of Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank's stock valued at $35,445,000 after purchasing an additional 253,708 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Regions Financial during the 4th quarter valued at approximately $1,965,000. Aprio Wealth Management LLC bought a new position in Regions Financial during the 4th quarter worth approximately $1,247,000. Nordea Investment Management AB raised its stake in Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank's stock worth $6,220,000 after buying an additional 99,115 shares during the last quarter. Finally, Commerce Bank raised its stake in Regions Financial by 392.5% during the third quarter. Commerce Bank now owns 248,325 shares of the bank's stock worth $5,793,000 after buying an additional 197,900 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.7 %

Shares of RF traded up $0.15 during trading hours on Friday, reaching $22.10. 10,446,555 shares of the stock traded hands, compared to its average volume of 7,434,354. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $23.90 and a 200 day simple moving average of $24.05. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a market cap of $20.01 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.93 and a beta of 1.19.

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Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is currently 51.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. The Goldman Sachs Group lifted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Compass Point lifted their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Piper Sandler lifted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley restated an "equal weight" rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $27.67.

Regions Financial Profile

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.