Vest Financial LLC Buys 10,316 Shares of Regions Financial Co. (NYSE:RF)

Vest Financial LLC increased its holdings in Regions Financial Co. (NYSE:RF) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,229,136 shares of the bank’s stock after buying an additional 10,316 shares during the period. Vest Financial LLC’s holdings in Regions Financial were worth $28,676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock valued at $1,675,000 after purchasing an additional 58,739 shares in the last quarter. UniSuper Management Pty Ltd raised its position in Regions Financial by 1,075.7% during the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock valued at $942,000 after purchasing an additional 40,972 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Regions Financial by 30.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after buying an additional 98,003 shares during the last quarter. Swedbank AB bought a new position in shares of Regions Financial during the first quarter valued at about $19,322,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Regions Financial during the first quarter valued at about $33,829,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RF. Truist Financial raised their target price on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Morgan Stanley upped their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group upped their price objective on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.86.

Regions Financial Price Performance

RF stock traded down $0.16 during trading on Friday, reaching $23.82. The company’s stock had a trading volume of 11,191,479 shares, compared to its average volume of 7,926,090. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $24.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.81 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17. The company’s fifty day moving average is $22.65 and its 200-day moving average is $20.88.

Regions Financial (NYSE:RF) last released 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 net margin of 18.91% and a return on equity of 12.64%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts expect that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

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.