Chase Investment Counsel Corp Buys 733 Shares of Regions Financial Co. (NYSE:RF)

Chase Investment Counsel Corp increased its stake in shares of Regions Financial Co. (NYSE:RF) by 5.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 13,551 shares of the bank’s stock after purchasing an additional 733 shares during the period. Chase Investment Counsel Corp’s holdings in Regions Financial were worth $316,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP lifted its stake in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Swedbank AB bought a new position in Regions Financial in the 1st quarter valued at $19,322,000. AE Wealth Management LLC grew its position in shares of Regions Financial by 1,533.3% during the 2nd quarter. AE Wealth Management LLC now owns 645,659 shares of the bank’s stock valued at $12,939,000 after purchasing an additional 606,129 shares in the last quarter. Finally, Interval Partners LP bought a new position in shares of Regions Financial in the second quarter worth $11,095,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. DA Davidson boosted their target price on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Wedbush raised their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One investment 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 data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $25.45.

Regions Financial Stock Down 0.1 %

Shares of NYSE:RF opened at $26.18 on Wednesday. The stock has a market capitalization of $23.79 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. The stock’s 50-day moving average price is $23.33 and its 200-day moving average price is $21.42. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 12-month low of $14.86 and a 12-month high of $26.33.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. Regions Financial’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate 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. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 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.