D.A. Davidson & CO. Purchases 26,976 Shares of Regions Financial Corporation $RF

D.A. Davidson & CO. lifted its holdings in Regions Financial Corporation (NYSE:RF) by 197.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,604 shares of the bank’s stock after acquiring an additional 26,976 shares during the period. D.A. Davidson & CO.’s holdings in Regions Financial were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Centaurus Financial Inc. grew its position in shares of Regions Financial by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after buying an additional 382 shares during the period. Hardy Reed LLC raised its holdings in shares of Regions Financial by 1.6% during the second quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock valued at $606,000 after purchasing an additional 404 shares during the period. Greenwood Capital Associates LLC grew its stake in shares of Regions Financial by 0.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock valued at $1,703,000 after buying an additional 427 shares during the period. Fairvoy Private Wealth LLC raised its stake in Regions Financial by 1.9% during the 3rd quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock worth $624,000 after buying an additional 449 shares during the period. Finally, Signet Financial Management LLC boosted its holdings in Regions Financial by 4.6% in the second quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock worth $256,000 after acquiring an additional 483 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Down 1.1%

NYSE:RF opened at $28.52 on Monday. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $29.25. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $26.33 and its 200 day moving average is $25.84. The stock has a market capitalization of $25.00 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03.

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

Regions Financial announced that its board has initiated a stock repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Regions Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on RF shares. Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research note on Monday, September 29th. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Citigroup raised their price target on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Barclays boosted their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Finally, Cowen reissued a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.93.

Regions Financial Company 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.