Private Trust Co. NA Acquires 1,321 Shares of Regions Financial Co. (NYSE:RF)

Private Trust Co. NA raised its holdings in Regions Financial Co. (NYSE:RF) by 26.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,309 shares of the bank’s stock after buying an additional 1,321 shares during the quarter. Private Trust Co. NA’s holdings in Regions Financial were worth $147,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $201,238,000 after buying an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares during the period. Swedbank AB purchased a new position in shares of Regions Financial in the 1st quarter valued at approximately $19,322,000. Charles Schwab Investment Management Inc. boosted its position in shares of Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Finally, AE Wealth Management LLC grew its stake in Regions Financial by 1,533.3% in the second quarter. AE Wealth Management LLC now owns 645,659 shares of the bank’s stock worth $12,939,000 after purchasing an additional 606,129 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Wedbush upped their price objective 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. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.71.

Regions Financial Trading Up 0.0 %

Shares of RF stock opened at $27.26 on Friday. 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 $16.51 and a 12-month high of $27.96. The stock has a market capitalization of $24.78 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.82 and a beta of 1.16. The firm’s 50 day moving average is $24.50 and its 200 day moving average is $22.08.

Regions Financial (NYSE:RF) last issued its quarterly earnings data 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 return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $0.49 EPS. The business’s revenue was down 3.7% on a year-over-year basis. Research analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

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.