Regions Financial Co. (NYSE:RF) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in Regions Financial Co. (NYSE:RF) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,439 shares of the bank’s stock after purchasing an additional 12,067 shares during the quarter. QRG Capital Management Inc.’s holdings in Regions Financial were worth $2,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. American National Bank & Trust raised its stake in Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,114 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Regions Financial in the first quarter worth about $26,000. Quarry LP boosted its position in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Regions Financial during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RF. Wells Fargo & Company boosted their target price on Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, October 24th. Wedbush lifted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. DA Davidson upped their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

Regions Financial Trading Up 11.4 %

Shares of NYSE RF opened at $26.31 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $24.08 billion, a PE ratio of 14.86, a PEG ratio of 2.47 and a beta of 1.16. Regions Financial Co. has a twelve month low of $14.86 and a twelve month high of $26.33. The stock has a fifty day simple moving average of $23.18 and a 200-day simple moving average of $21.28.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share 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 analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, equities analysts forecast that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.80%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is currently 56.50%.

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.