Riverhead Capital Management LLC grew its position in shares of Regions Financial Corp (NYSE:RF) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,044 shares of the bank’s stock after purchasing an additional 17,371 shares during the period. Riverhead Capital Management LLC’s holdings in Regions Financial were worth $3,285,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of RF. GHP Investment Advisors Inc. grew its position in Regions Financial by 1.7% in the third quarter. GHP Investment Advisors Inc. now owns 170,864 shares of the bank’s stock worth $3,135,000 after acquiring an additional 2,908 shares in the last quarter. Fortis Advisors LLC grew its position in Regions Financial by 16.1% in the second quarter. Fortis Advisors LLC now owns 21,510 shares of the bank’s stock worth $382,000 after acquiring an additional 2,984 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Regions Financial by 19.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 19,308 shares of the bank’s stock worth $343,000 after acquiring an additional 3,099 shares in the last quarter. Norinchukin Bank The grew its position in Regions Financial by 4.2% in the third quarter. Norinchukin Bank The now owns 77,995 shares of the bank’s stock worth $1,431,000 after acquiring an additional 3,109 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in Regions Financial by 9.6% in the second quarter. Alps Advisors Inc. now owns 36,423 shares of the bank’s stock worth $648,000 after acquiring an additional 3,189 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.
Shares of NYSE RF opened at $14.90 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.85 and a beta of 1.29. Regions Financial Corp has a 1 year low of $14.81 and a 1 year high of $20.21.
Regions Financial (NYSE:RF) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Regions Financial had a return on equity of 10.15% and a net margin of 26.39%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. On average, sell-side analysts predict that Regions Financial Corp will post 1.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.76%. The ex-dividend date is Thursday, December 6th. Regions Financial’s payout ratio is currently 56.00%.
Several research analysts recently commented on the company. ValuEngine lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Wedbush set a $22.00 price target on Regions Financial and gave the stock a “buy” rating in a research report on Friday, September 7th. JPMorgan Chase & Co. upgraded Regions Financial from a “neutral” rating to an “overweight” rating in a research report on Monday, November 26th. B. Riley set a $20.00 price target on Regions Financial and gave the stock a “hold” rating in a research report on Monday, October 15th. Finally, Raymond James dropped their price target on Regions Financial from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.68.
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Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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