Summit Financial Wealth Advisors LLC Takes Position in Regions Financial Co. (NYSE:RF)

Summit Financial Wealth Advisors LLC acquired a new position in Regions Financial Co. (NYSE:RF) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 8,718 shares of the bank’s stock, valued at approximately $203,000.

Other large investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial during the 1st quarter worth approximately $26,000. American National Bank & Trust grew 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 acquiring an additional 1,114 shares during the period. Quarry LP raised its position in shares of Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Regions Financial during the second quarter worth about $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Up 0.7 %

RF stock opened at $27.47 on Tuesday. The company has a market cap of $24.97 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.83 and a beta of 1.16. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $27.96. The stock’s 50 day simple moving average is $24.16 and its 200 day simple moving average is $21.91. 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 issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.80 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RF shares. Truist Financial lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Wedbush lifted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Evercore ISI raised their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.41.

About Regions Financial

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.