Gilliland Jeter Wealth Management LLC Has $270,000 Position in Regions Financial Co. (NYSE:RF)

Gilliland Jeter Wealth Management LLC lifted its stake in Regions Financial Co. (NYSE:RF) by 110.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,592 shares of the bank’s stock after acquiring an additional 6,081 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Regions Financial were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RF. EntryPoint Capital LLC acquired a new stake in Regions Financial in the first quarter valued at approximately $26,000. American National Bank & Trust lifted its stake in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP lifted its stake in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the last quarter. MV Capital Management Inc. boosted its holdings in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Down 0.7 %

Shares of NYSE:RF opened at $23.82 on Monday. The company’s fifty day moving average is $22.65 and its 200-day moving average is $20.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $24.47. The company has a market capitalization of $21.81 billion, a PE ratio of 12.95, a P/E/G ratio of 2.80 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts predict that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.20%. Regions Financial’s dividend payout ratio is 54.35%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RF. Evercore ISI boosted their price objective 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. Morgan Stanley raised their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their target price on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods dropped their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $28.00 in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.86.

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.