EP Wealth Advisors LLC Takes $957,000 Position in Regions Financial Co. (NYSE:RF)

EP Wealth Advisors LLC acquired a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 41,010 shares of the bank's stock, valued at approximately $957,000.

Several other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank's stock worth $35,445,000 after acquiring an additional 253,708 shares during the period. Commerce Bank lifted its stake in Regions Financial by 392.5% in the third quarter. Commerce Bank now owns 248,325 shares of the bank's stock valued at $5,793,000 after buying an additional 197,900 shares in the last quarter. National Pension Service raised its holdings in shares of Regions Financial by 6.3% in the third quarter. National Pension Service now owns 1,722,024 shares of the bank's stock valued at $40,175,000 after purchasing an additional 102,380 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Regions Financial in the third quarter valued at approximately $1,659,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Regions Financial during the third quarter worth $3,451,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RF. The Goldman Sachs Group boosted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Truist Financial increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a research report on Monday, October 21st. Argus upgraded Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 target price on the stock in a report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods upgraded Regions Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.61.

Regions Financial Stock Up 0.3 %

Shares of Regions Financial stock traded up $0.07 during trading on Wednesday, reaching $25.40. 8,176,001 shares of the company traded hands, compared to its average volume of 7,874,186. The firm has a market capitalization of $23.09 billion, a PE ratio of 14.31, a P/E/G ratio of 2.72 and a beta of 1.19. The company has a 50 day moving average price of $24.96 and a 200-day moving average price of $22.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $17.18 and a 1-year high of $27.96.

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

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is 56.50%.

Regions Financial Company 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.