Benjamin Edwards Inc. Boosts Position in Regions Financial Corporation $RF

Benjamin Edwards Inc. boosted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 6.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 406,001 shares of the bank’s stock after purchasing an additional 23,533 shares during the period. Benjamin Edwards Inc.’s holdings in Regions Financial were worth $10,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Regions Financial by 30.0% in the 3rd quarter. SG Americas Securities LLC now owns 68,404 shares of the bank’s stock worth $1,804,000 after purchasing an additional 15,768 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Regions Financial by 15.2% in the 3rd quarter. HB Wealth Management LLC now owns 107,254 shares of the bank’s stock valued at $2,828,000 after purchasing an additional 14,178 shares during the period. CX Institutional boosted its holdings in Regions Financial by 20.9% during the third quarter. CX Institutional now owns 15,467 shares of the bank’s stock worth $408,000 after buying an additional 2,676 shares in the last quarter. Cerity Partners LLC grew its position in Regions Financial by 16.0% during the third quarter. Cerity Partners LLC now owns 660,946 shares of the bank’s stock valued at $17,429,000 after buying an additional 91,252 shares during the period. Finally, CoreCap Advisors LLC increased its holdings in Regions Financial by 80.3% in the third quarter. CoreCap Advisors LLC now owns 2,189 shares of the bank’s stock valued at $58,000 after buying an additional 975 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on Regions Financial from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Morgan Stanley set a $32.00 target price on Regions Financial in a research report on Monday, September 29th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.93.

Regions Financial Stock Up 1.4%

Shares of NYSE:RF opened at $28.86 on Friday. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $29.26. The stock has a market cap of $25.30 billion, a P/E ratio of 12.71, a PEG ratio of 1.15 and a beta of 1.03. The business has a fifty day moving average of $26.24 and a two-hundred day moving average of $25.76. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. On average, research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to repurchase up to 12.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.265 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. Regions Financial’s payout ratio is presently 46.70%.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.