42,355 Shares in Regions Financial Co. (NYSE:RF) Purchased by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC purchased a new stake in Regions Financial Co. (NYSE:RF - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,355 shares of the bank's stock, valued at approximately $988,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in shares of Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank's stock worth $1,675,000 after purchasing an additional 58,739 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of Regions Financial by 1,075.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank's stock valued at $942,000 after buying an additional 40,972 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Regions Financial by 30.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank's stock valued at $8,734,000 after acquiring an additional 98,003 shares in the last quarter. Swedbank AB acquired a new position in shares of Regions Financial in the first quarter worth $19,322,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Regions Financial by 47.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank's stock worth $5,666,000 after acquiring an additional 89,045 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RF. Truist Financial raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Citigroup raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Evercore ISI increased their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and raised their price target for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upgraded shares of Regions Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and a consensus target price of $25.45.

Regions Financial Price Performance

Shares of Regions Financial stock traded up $2.69 during midday trading on Wednesday, hitting $26.31. 20,751,736 shares of the company were exchanged, compared to its average volume of 7,955,910. The firm has a 50 day simple moving average of $23.12 and a 200-day simple moving average of $21.24. Regions Financial Co. has a 52 week low of $14.86 and a 52 week high of $26.33. The firm has a market cap of $24.08 billion, a P/E ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.16. 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 (NYSE:RF - Get Free Report) last issued its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. Research analysts forecast that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) 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.