8,801 Shares in Regions Financial Co. (NYSE:RF) Purchased by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC acquired a new position in shares of Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 8,801 shares of the bank’s stock, valued at approximately $205,000.

Other hedge funds have also made changes to their positions in the company. Qsemble Capital Management LP grew its holdings in shares of Regions Financial by 485.3% during the third quarter. Qsemble Capital Management LP now owns 60,870 shares of the bank’s stock worth $1,420,000 after buying an additional 50,471 shares in the last quarter. Private Trust Co. NA raised its holdings in Regions Financial by 26.5% in the 3rd quarter. Private Trust Co. NA now owns 6,309 shares of the bank’s stock valued at $147,000 after acquiring an additional 1,321 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Regions Financial during the 3rd quarter worth approximately $37,000. DRW Securities LLC purchased a new stake in shares of Regions Financial in the third quarter valued at approximately $1,659,000. Finally, Independent Advisor Alliance lifted its position in Regions Financial by 3.2% during the third quarter. Independent Advisor Alliance now owns 42,381 shares of the bank’s stock worth $989,000 after buying an additional 1,315 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Down 0.6 %

Shares of RF stock opened at $27.30 on Wednesday. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $27.96. The company has a 50 day moving average price of $24.25 and a 200 day moving average price of $21.96. The stock has a market capitalization of $24.81 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 2.83 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. Equities research analysts predict that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.66%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RF. Wedbush raised their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Citigroup increased their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Tuesday, October 29th. Finally, Barclays lifted their target price on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

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.