Perigon Wealth Management LLC Buys 75,038 Shares of Regions Financial Co. (NYSE:RF)

Perigon Wealth Management LLC boosted its position in Regions Financial Co. (NYSE:RF - Free Report) by 407.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,465 shares of the bank's stock after acquiring an additional 75,038 shares during the quarter. Perigon Wealth Management LLC's holdings in Regions Financial were worth $2,292,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RF. American National Bank & Trust grew its stake in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock worth $27,000 after buying an additional 1,114 shares during the last quarter. Quarry LP grew its position in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after acquiring an additional 816 shares during the last quarter. Truvestments Capital LLC acquired a new position in Regions Financial in the 3rd quarter worth about $37,000. Legacy Investment Solutions LLC bought a new position in Regions Financial in the third quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Regions Financial by 163.1% during the third quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank's stock valued at $56,000 after purchasing an additional 1,483 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.8 %

Shares of NYSE:RF traded up $0.19 during midday trading on Thursday, hitting $24.77. 6,403,776 shares of the company's stock were exchanged, compared to its average volume of 8,560,477. Regions Financial Co. has a 12 month low of $17.42 and a 12 month high of $27.96. The company has a market cap of $22.51 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a 50 day moving average price of $24.83 and a 200-day moving average price of $23.64.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company earned $0.39 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Truist Financial upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a research note on Tuesday, January 21st. Wedbush lifted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. StockNews.com upgraded Regions Financial from a "sell" rating to a "hold" rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised Regions Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. Finally, Barclays increased their price target on Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $27.67.

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.