Great West Life Assurance Co. Can Buys 218,594 Shares of Regions Financial Co. (NYSE:RF)

Great West Life Assurance Co. Can raised its position in Regions Financial Co. (NYSE:RF) by 8.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,687,253 shares of the bank’s stock after buying an additional 218,594 shares during the period. Great West Life Assurance Co. Can owned about 0.29% of Regions Financial worth $48,175,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Southeast Asset Advisors Inc. grew its holdings in Regions Financial by 0.5% during the 2nd quarter. Southeast Asset Advisors Inc. now owns 99,244 shares of the bank’s stock worth $1,769,000 after acquiring an additional 502 shares during the period. Toroso Investments LLC grew its stake in shares of Regions Financial by 5.0% during the fourth quarter. Toroso Investments LLC now owns 10,722 shares of the bank’s stock worth $231,000 after purchasing an additional 508 shares during the period. Aspire Private Capital LLC bought a new stake in Regions Financial in the first quarter valued at about $11,024,640,000. Renasant Bank lifted its stake in Regions Financial by 3.0% in the second quarter. Renasant Bank now owns 22,088 shares of the bank’s stock valued at $394,000 after buying an additional 643 shares during the period. Finally, Kinneret Advisory LLC boosted its holdings in Regions Financial by 2.3% during the first quarter. Kinneret Advisory LLC now owns 29,352 shares of the bank’s stock worth $658,000 after buying an additional 656 shares during the last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Down 0.7 %

Shares of RF stock opened at $16.30 on Tuesday. The firm’s fifty day moving average price is $16.16 and its two-hundred day moving average price is $17.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.30. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $24.33. The firm has a market capitalization of $15.16 billion, a P/E ratio of 6.79, a PEG ratio of 1.05 and a beta of 1.22.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 20th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.09). The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.89 billion. Regions Financial had a return on equity of 15.86% and a net margin of 26.39%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 EPS. On average, equities analysts predict that Regions Financial Co. will post 2.2 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.96 dividend on an annualized basis and a yield of 5.89%. Regions Financial’s payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of recent analyst reports. Wedbush cut Regions Financial from an “outperform” rating to a “neutral” rating in a research note on Friday, October 20th. Jefferies Financial Group cut their target price on shares of Regions Financial from $19.00 to $17.00 in a report on Tuesday, October 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $16.50 price target (down previously from $19.00) on shares of Regions Financial in a report on Friday, October 27th. Barclays reduced their target price on Regions Financial from $23.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Finally, Odeon Capital Group downgraded Regions Financial from a “buy” rating to a “hold” rating and set a $17.10 price target for the company. in a report on Monday, November 13th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.23.

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.