Regions Financial Corporation $RF Stock Purchased by Vest Financial LLC

Key Points

• Vest Financial LLC increased its Regions Financial stake by 44.4% in the third quarter, purchasing 884,478 additional shares and bringing its holdings to 2.88 million shares valued at approximately $77.3 million.
• Analysts maintain a generally neutral view of Regions Financial, with seven Buy, ten Hold, and three Sell ratings and a consensus price target of $31.12 versus the reported share price of $28.05.
• Regions Financial exceeded quarterly EPS expectations, reporting $0.73 versus the $0.67 consensus, while revenue rose 3% year over year to $1.99 billion. The company also announced a quarterly dividend of $0.30 per share, implying a 4.3% annualized yield.

Vest Financial LLC grew its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 44.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,876,112 shares of the bank's stock after purchasing an additional 884,478 shares during the period. Regions Financial comprises approximately 0.8% of Vest Financial LLC's holdings, making the stock its 28th largest holding. Vest Financial LLC owned approximately 0.34% of Regions Financial worth $77,310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WPG Advisers LLC lifted its holdings in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock worth $25,000 after buying an additional 370 shares during the period. Master S Wealth Management Inc. raised its stake in Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank's stock worth $1,009,000 after buying an additional 372 shares in the last quarter. Legacy Wealth Managment LLC ID raised its position in shares of Regions Financial by 17.3% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank's stock worth $68,000 after acquiring an additional 381 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Regions Financial by 4.7% during the second quarter. Wedmont Private Capital now owns 9,344 shares of the bank's stock valued at $290,000 after buying an additional 418 shares during the last quarter. Finally, CX Institutional lifted its position in Regions Financial by 3.3% during the second quarter. CX Institutional now owns 14,063 shares of the bank's stock valued at $425,000 after acquiring an additional 449 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RF shares. Jefferies Financial Group reissued a "hold" rating and issued a $32.00 price target on shares of Regions Financial in a report on Friday, July 17th. JPMorgan Chase & Co. lowered their price target on shares of Regions Financial from $32.00 to $30.50 and set a "neutral" rating on the stock in a report on Friday, October 2nd. Evercore reaffirmed an "underperform" rating and set a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Robert W. Baird upgraded shares of Regions Financial from an "underperform" rating to a "neutral" rating and set a $28.00 price objective for the company in a research report on Friday, September 18th. Finally, Keefe, Bruyette & Woods upped 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 report on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average rating of "Hold" and a consensus price target of $31.12.

Regions Financial Stock Up 0.7%

NYSE RF opened at $28.05 on Thursday. The business has a fifty day moving average price of $28.89 and a 200 day moving average price of $29.03. Regions Financial Corporation has a one year low of $23.59 and a one year high of $32.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market cap of $23.90 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.12 and a beta of 1.05.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The business's revenue was up 3.0% compared to the same quarter last year. Research analysts anticipate that Regions Financial Corporation will post 2.70 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.3%. Regions Financial's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF - Free Report).

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.