Regions Financial Corporation $RF Shares Bought by Raleigh Capital Management Inc.

Key Points

• Raleigh Capital Management increased its Regions Financial stake by 75.9% in the third quarter, ending with 91,199 shares valued at approximately $2.45 million. Institutional investors collectively own 79.39% of the bank’s stock.
• Analyst sentiment remains mixed, with seven Buy, ten Hold, and three Sell ratings. Regions Financial has a consensus rating of Hold and an average price target of $31.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.73 EPS versus the $0.67 consensus estimate, while revenue reached $1.99 billion. The company also announced a quarterly dividend of $0.30 per share, representing a 4.2% annualized yield.

Raleigh Capital Management Inc. lifted its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 75.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,199 shares of the bank's stock after buying an additional 39,362 shares during the quarter. Raleigh Capital Management Inc.'s holdings in Regions Financial were worth $2,451,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. WPG Advisers LLC grew its holdings in Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock worth $25,000 after acquiring an additional 370 shares during the period. Keating Financial Advisory Services Inc. acquired a new position in shares of Regions Financial in the 2nd quarter valued at about $25,000. Trust Co. of Vermont acquired a new position in shares of Regions Financial in the 2nd quarter valued at about $26,000. Gables Capital Management Inc. acquired a new position in shares of Regions Financial in the 2nd quarter valued at about $30,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of Regions Financial during the 2nd quarter valued at about $36,000. Institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RF. Citigroup decreased their target price on Regions Financial from $36.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, October 21st. DA Davidson dropped their price target on Regions Financial from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Monday, October 19th. Morgan Stanley cut their price target on Regions Financial from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Monday, September 28th. Capital One Financial set a $33.00 price objective on shares of Regions Financial in a research report on Monday, October 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Regions Financial from $30.50 to $31.00 and gave the stock a "neutral" rating in a research report on Friday. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.00.

Regions Financial Stock Performance

Shares of RF opened at $28.59 on Friday. Regions Financial Corporation has a one year low of $23.59 and a one year high of $32.47. The company has a market cap of $24.36 billion, a PE ratio of 11.21, a P/E/G ratio of 1.17 and a beta of 1.05. The stock has a 50-day moving average of $28.53 and a 200-day moving average of $28.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.82 and a quick ratio of 0.81.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, October 16th. The bank reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.06. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. On average, equities research analysts predict that Regions Financial Corporation will post 2.70 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, December 1st. Regions Financial's dividend payout ratio (DPR) is currently 47.06%.

Regions Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.