Regions Financial Corporation $RF Stock Holdings Raised by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in shares of Regions Financial Corporation (NYSE:RF) by 37.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,278 shares of the bank’s stock after purchasing an additional 28,873 shares during the period. Verdence Capital Advisors LLC’s holdings in Regions Financial were worth $2,830,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RF. Lakewood Asset Management LLC grew its stake in shares of Regions Financial by 9.6% in the third quarter. Lakewood Asset Management LLC now owns 83,985 shares of the bank’s stock valued at $2,258,000 after buying an additional 7,378 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Regions Financial by 11.6% during the third quarter. Apollon Wealth Management LLC now owns 31,719 shares of the bank’s stock worth $853,000 after buying an additional 3,293 shares during the last quarter. Code Waechter LLC acquired a new position in Regions Financial during the third quarter worth $248,000. Signaturefd LLC increased its holdings in Regions Financial by 6.6% during the third quarter. Signaturefd LLC now owns 26,264 shares of the bank’s stock worth $706,000 after buying an additional 1,617 shares during the last quarter. Finally, Simplicity Wealth LLC raised its position in Regions Financial by 147.1% during the third quarter. Simplicity Wealth LLC now owns 20,312 shares of the bank’s stock worth $546,000 after acquiring an additional 12,091 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

NYSE:RF opened at $28.54 on Wednesday. The company has a market cap of $24.31 billion, a P/E ratio of 11.19 and a beta of 1.05. The firm’s fifty day moving average price is $28.66 and its two-hundred day moving average price is $28.68. Regions Financial Corporation has a one year low of $23.59 and a one year high of $32.47.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. As a group, equities research analysts expect that Regions Financial Corporation will post 2.70 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Regions Financial’s dividend payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RF shares. Citigroup cut their price target on shares of Regions Financial from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Morgan Stanley lowered their price objective on shares of Regions Financial from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, September 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Capital One Financial set a $33.00 target price on shares of Regions Financial in a report on Monday, October 19th. Finally, Robert W. Baird upgraded shares of Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 target price for the company in a research note on Friday, September 18th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus price target of $30.98.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.