Greenwood Capital Associates LLC Invests $988,000 in Regions Financial Co. (NYSE:RF)

Greenwood Capital Associates LLC acquired a new position in shares of Regions Financial Co. (NYSE:RF) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,355 shares of the bank’s stock, valued at approximately $988,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RF. Private Advisor Group LLC boosted its holdings in Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares in the last quarter. CWM LLC boosted its holdings in Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in Regions Financial by 2.4% in the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after purchasing an additional 506 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Regions Financial by 2.8% in the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock valued at $473,000 after purchasing an additional 545 shares in the last quarter. Finally, IFG Advisory LLC boosted its holdings in Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after purchasing an additional 546 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Up 1.0 %

NYSE:RF opened at $23.62 on Wednesday. The stock has a fifty day moving average price of $23.12 and a two-hundred day moving average price of $21.24. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.16. 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 $14.86 and a 1 year high of $24.47.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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). The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.23%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Analysts Set New Price Targets

RF has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $24.00 to $26.00 in a report on Thursday, October 24th. The Goldman Sachs Group upped their price target on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Bank of America boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Citigroup boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley boosted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.45.

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.