Wilmington Savings Fund Society FSB Buys New Shares in Regions Financial Co. (NYSE:RF)

Wilmington Savings Fund Society FSB purchased a new position in Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,411 shares of the bank’s stock, valued at approximately $56,000.

Other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust boosted its holdings in Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,114 shares during the period. Quarry LP lifted its position in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during the period. Innealta Capital LLC purchased a new position in shares of Regions Financial in the second quarter worth $32,000. Finally, Truvestments Capital LLC bought a new stake in Regions Financial during the 3rd quarter valued at $37,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of analyst reports. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research report on Tuesday, October 29th. Piper Sandler boosted their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and boosted their target price for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Truist Financial raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.61.

Regions Financial Price Performance

Shares of NYSE:RF opened at $23.77 on Friday. Regions Financial Co. has a 1-year low of $17.42 and a 1-year high of $27.96. The business has a fifty day moving average price of $25.20 and a 200-day moving average price of $22.71. The company has a market capitalization of $21.60 billion, a PE ratio of 13.43, a PEG ratio of 2.64 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its 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). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. As a group, equities analysts expect that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 4.21%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

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.