Thrivent Financial for Lutherans Has $1.86 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Thrivent Financial for Lutherans lifted its stake in shares of Regions Financial Co. (NYSE:RF) by 9.2% in the third quarter, Holdings Channel.com reports. The fund owned 79,453 shares of the bank’s stock after acquiring an additional 6,665 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Regions Financial were worth $1,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank & Trust raised its holdings in Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP raised its stake in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after buying an additional 1,256 shares during the period. Innealta Capital LLC bought a new stake in Regions Financial during the second quarter valued at $32,000. Finally, EdgeRock Capital LLC acquired a new stake in Regions Financial during the 2nd quarter worth about $33,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of NYSE RF opened at $27.25 on Friday. Regions Financial Co. has a fifty-two week low of $15.82 and a fifty-two week high of $27.96. The company has a market cap of $24.77 billion, a PE ratio of 15.40, a P/E/G ratio of 2.85 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. The business has a 50-day simple moving average of $24.42 and a two-hundred day simple moving average of $22.03.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RF. Wedbush boosted their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Tuesday, October 29th. DA Davidson increased their target price on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.71.

Regions Financial 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.