Regions Financial Co. (NYSE:RF) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its position in shares of Regions Financial Co. (NYSE:RF) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 483,032 shares of the bank’s stock after buying an additional 42,520 shares during the quarter. Cerity Partners LLC’s holdings in Regions Financial were worth $11,269,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RF. American National Bank & Trust lifted its position in Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after buying an additional 1,114 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial in the first quarter worth approximately $26,000. Quarry LP grew its holdings 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 period. Whittier Trust Co. of Nevada Inc. increased its position in 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 worth $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Regions Financial during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 0.6 %

Shares of NYSE RF opened at $27.30 on Wednesday. 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 $15.79 and a 1 year high of $27.96. The stock’s 50-day simple moving average is $24.25 and its 200-day simple moving average is $21.96. The firm has a market cap of $24.81 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 2.83 and a beta of 1.16.

Regions Financial (NYSE:RF) last posted 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 for 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%. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. As a group, equities analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.66%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RF shares. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. Morgan Stanley upped their price target on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Tuesday, October 29th. Citigroup increased their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.71.

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.