Benjamin Edwards Inc. Buys 282,728 Shares of Regions Financial Co. (NYSE:RF)

Benjamin Edwards Inc. grew its stake in Regions Financial Co. (NYSE:RF - Free Report) by 13,948.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 284,755 shares of the bank's stock after purchasing an additional 282,728 shares during the quarter. Benjamin Edwards Inc.'s holdings in Regions Financial were worth $6,643,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Erste Asset Management GmbH acquired a new stake in Regions Financial during the 3rd quarter worth $8,274,000. Edgestream Partners L.P. acquired a new stake in Regions Financial during the 3rd quarter worth $3,565,000. Point72 Europe London LLP acquired a new stake in shares of Regions Financial in the 3rd quarter valued at about $5,770,000. Captrust Financial Advisors raised its stake in shares of Regions Financial by 16.0% in the 3rd quarter. Captrust Financial Advisors now owns 108,572 shares of the bank's stock valued at $2,533,000 after purchasing an additional 14,958 shares during the period. Finally, Vinva Investment Management Ltd acquired a new stake in shares of Regions Financial in the 3rd quarter valued at about $208,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RF. Piper Sandler lifted their price target on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Citigroup raised their price objective on Regions Financial from $26.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Truist Financial raised their price objective on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday, October 21st. Finally, Stephens upgraded Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Regions Financial has an average rating of "Moderate Buy" and a consensus target price of $27.18.

Regions Financial Price Performance

Shares of NYSE RF traded down $0.06 during midday trading on Wednesday, reaching $26.28. The company's stock had a trading volume of 8,001,362 shares, compared to its average volume of 7,891,926. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a fifty-two week low of $16.86 and a fifty-two week high of $27.96. The business's 50 day moving average price is $24.72 and its two-hundred day moving average price is $22.23. The company has a market cap of $23.88 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.75 and a beta of 1.19.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The firm's quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts forecast that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given 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 3.81%. Regions Financial's dividend payout ratio is currently 56.50%.

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.