Resonant Capital Advisors LLC Increases Stake in Regions Financial Co. (NYSE:RF)

Resonant Capital Advisors LLC lifted its stake in Regions Financial Co. (NYSE:RF) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,845 shares of the bank’s stock after buying an additional 506 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Regions Financial were worth $515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC boosted its holdings in shares of Regions Financial by 1.1% during the 3rd quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares during the last quarter. IFG Advisory LLC raised its holdings in shares of Regions Financial by 1.8% during the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Regions Financial by 0.6% during the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after acquiring an additional 551 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC increased its position in Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after purchasing an additional 584 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RF. Wells Fargo & Company lifted their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Truist Financial boosted their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. The Goldman Sachs Group upped their price objective on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Bank of America lifted their target price on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada increased their price target on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.86.

Regions Financial Price Performance

Shares of RF stock opened at $23.82 on Monday. Regions Financial Co. has a one year low of $13.72 and a one year high of $24.47. The company has a market capitalization of $21.81 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.80 and a beta of 1.17. The company’s 50-day simple moving average is $22.65 and its two-hundred day simple moving average is $20.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. As a group, equities analysts anticipate that Regions Financial Co. will post 2.02 EPS for the current year.

Regions Financial Announces Dividend

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

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.