Independent Advisor Alliance Increases Position in Regions Financial Co. (NYSE:RF)

Independent Advisor Alliance grew its holdings in Regions Financial Co. (NYSE:RF) by 3.2% during the third quarter, HoldingsChannel reports. The firm owned 42,381 shares of the bank’s stock after acquiring an additional 1,315 shares during the period. Independent Advisor Alliance’s holdings in Regions Financial were worth $989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EntryPoint Capital LLC acquired a new position in shares of Regions Financial during the 1st quarter valued at about $26,000. California State Teachers Retirement System grew its stake in shares of Regions Financial by 3.3% in the 1st quarter. California State Teachers Retirement System now owns 1,716,488 shares of the bank’s stock valued at $36,115,000 after buying an additional 54,309 shares during the period. Tidal Investments LLC raised its position in shares of Regions Financial by 7.6% during the 1st quarter. Tidal Investments LLC now owns 104,771 shares of the bank’s stock valued at $2,204,000 after buying an additional 7,422 shares during the period. LBP AM SA acquired a new position in Regions Financial in the first quarter valued at approximately $3,643,000. Finally, Heartland Bank & Trust Co purchased a new position in Regions Financial in the first quarter worth approximately $210,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their target price on 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 upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, October 24th. Wedbush raised their target price on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Barclays increased their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and an average price target of $26.71.

Regions Financial Trading Down 0.6 %

NYSE:RF opened at $27.30 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 1 year low of $15.79 and a 1 year high of $27.96. The stock has a market cap of $24.81 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.83 and a beta of 1.16. The stock has a 50-day simple moving average of $24.25 and a 200-day simple moving average of $21.96.

Regions Financial (NYSE:RF) last announced its quarterly 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 56.50%.

About Regions Financial

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.