Logan Capital Management Inc. Takes $2.20 Million Position in Regions Financial Co. (NYSE:RF)

Logan Capital Management Inc. bought a new position in Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 94,084 shares of the bank’s stock, valued at approximately $2,195,000.

Several other hedge funds also recently modified their holdings of the business. Franklin Resources Inc. increased its position in Regions Financial by 30.9% during the third quarter. Franklin Resources Inc. now owns 702,627 shares of the bank’s stock worth $16,758,000 after buying an additional 165,710 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Regions Financial by 55.9% during the 3rd quarter. Synovus Financial Corp now owns 375,572 shares of the bank’s stock valued at $8,762,000 after acquiring an additional 134,615 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Regions Financial by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 127,326 shares of the bank’s stock valued at $2,971,000 after acquiring an additional 2,531 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Regions Financial in the 3rd quarter worth approximately $56,000. Finally, World Investment Advisors LLC boosted its position in Regions Financial by 14.5% during the third quarter. World Investment Advisors LLC now owns 15,837 shares of the bank’s stock worth $369,000 after purchasing an additional 2,010 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Up 0.2 %

Shares of RF stock opened at $25.10 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $22.81 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.64 and a beta of 1.19. Regions Financial Co. has a 12-month low of $17.42 and a 12-month high of $27.96. The firm has a 50-day moving average price of $25.07 and a 200 day moving average price of $22.47.

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

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.98%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Citigroup boosted their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company lifted their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.61.

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.