Summit Trail Advisors LLC acquired a new stake in Regions Financial Co. (NYSE:RF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,648 shares of the bank's stock, valued at approximately $278,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Citigroup Inc. lifted its position in Regions Financial by 20.0% in the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank's stock valued at $35,445,000 after acquiring an additional 253,708 shares in the last quarter. Aprio Wealth Management LLC purchased a new stake in shares of Regions Financial in the fourth quarter worth approximately $1,247,000. Nordea Investment Management AB lifted its holdings in shares of Regions Financial by 60.4% in the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank's stock valued at $6,220,000 after purchasing an additional 99,115 shares in the last quarter. Commerce Bank boosted its position in shares of Regions Financial by 392.5% during 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 during the last quarter. Finally, Vest Financial LLC grew its holdings in Regions Financial by 20.4% during the fourth quarter. Vest Financial LLC now owns 1,479,865 shares of the bank's stock worth $34,806,000 after buying an additional 250,729 shares in the last quarter. Institutional investors own 79.39% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on RF. Morgan Stanley restated an "equal weight" rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Wells Fargo & Company raised their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. Argus raised shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price objective for the company in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised Regions Financial from a "sell" rating to a "hold" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.67.
Check Out Our Latest Analysis on RF
Regions Financial Stock Performance
Shares of RF traded up $0.27 during trading hours on Friday, hitting $24.32. The company's stock had a trading volume of 8,729,990 shares, compared to its average volume of 7,962,994. The business has a 50 day simple moving average of $24.23 and a two-hundred day simple moving average of $23.83. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. 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 company has a market cap of $22.10 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.97 and a beta of 1.20.
Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. On average, equities analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.
Regions Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial's dividend payout ratio is presently 51.55%.
About Regions Financial
(
Free Report)
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.
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