Edgestream Partners L.P. Buys Shares of 152,787 Regions Financial Co. (NYSE:RF)

Edgestream Partners L.P. purchased a new position in Regions Financial Co. (NYSE:RF - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 152,787 shares of the bank's stock, valued at approximately $3,565,000.

A number of other hedge funds have also recently made changes to their positions in RF. Private Advisor Group LLC increased its position in shares of Regions Financial by 1.8% during the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank's stock worth $581,000 after purchasing an additional 429 shares in the last quarter. CWM LLC increased its position in Regions Financial by 1.1% during the 3rd quarter. CWM LLC now owns 42,346 shares of the bank's stock valued at $988,000 after buying an additional 480 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in Regions Financial by 2.4% in the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank's stock worth $515,000 after acquiring an additional 506 shares in the last quarter. Centaurus Financial Inc. grew its stake in shares of Regions Financial by 5.9% during the third quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank's stock worth $228,000 after acquiring an additional 540 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Regions Financial by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank's stock valued at $473,000 after acquiring an additional 545 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. Truist Financial boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday, October 21st. DA Davidson raised their target price on Regions Financial from $27.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. StockNews.com upgraded Regions Financial from a "sell" rating to a "hold" rating in a research note on Friday, October 25th. Finally, Citigroup raised their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.71.

Regions Financial Stock Performance

RF traded down $0.46 on Monday, reaching $26.55. The stock had a trading volume of 6,644,509 shares, compared to its average volume of 7,901,744. The business's 50-day moving average price is $24.58 and its two-hundred day moving average price is $22.16. The company has a market cap of $24.13 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 2.82 and a beta of 1.16. Regions Financial Co. has a 12-month low of $16.86 and a 12-month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35.

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

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.77%. Regions Financial's dividend payout ratio (DPR) is 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.