SeaCrest Wealth Management LLC purchased a new position in shares of Regions Financial Co. (NYSE:RF – Get Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,300 shares of the bank’s stock, valued at approximately $43,000.
Other large investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its holdings in Regions Financial by 8.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 599,230 shares of the bank’s stock valued at $13,339,000 after buying an additional 45,132 shares in the last quarter. Van ECK Associates Corp grew its holdings in Regions Financial by 6.3% in the 1st quarter. Van ECK Associates Corp now owns 24,234 shares of the bank’s stock valued at $539,000 after buying an additional 1,440 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Regions Financial by 305.6% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 48,281 shares of the bank’s stock valued at $905,000 after buying an additional 36,378 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Regions Financial by 5.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 271,513 shares of the bank’s stock valued at $5,193,000 after buying an additional 13,551 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Regions Financial by 248.9% in the 2nd quarter. Vontobel Holding Ltd. now owns 85,216 shares of the bank’s stock valued at $1,640,000 after buying an additional 60,790 shares in the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Wells Fargo & Company lowered Regions Financial to a “market perform” rating in a research note on Monday. Robert W. Baird reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Regions Financial in a research note on Wednesday, August 3rd. Stephens upped their price target on Regions Financial from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 25th. Compass Point decreased their price target on Regions Financial to $23.00 in a research note on Thursday, October 20th. Finally, Morgan Stanley decreased their price target on Regions Financial from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 5th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.50.
Regions Financial Price Performance
Regions Financial (NYSE:RF – Get Rating) last posted its quarterly earnings results on Friday, October 21st. The bank reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.81 billion. Regions Financial had a net margin of 28.34% and a return on equity of 14.13%. Regions Financial’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. Analysts anticipate that Regions Financial Co. will post 2.35 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 Tuesday, January 3rd. Stockholders of record on Thursday, December 8th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.55%. Regions Financial’s payout ratio is currently 40.00%.
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.
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