Sunburst Financial Group LLC Raises Stake in Regions Financial Co. (NYSE:RF)

Sunburst Financial Group LLC lifted its holdings in shares of Regions Financial Co. (NYSE:RF) by 19.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,106 shares of the bank’s stock after buying an additional 5,945 shares during the period. Sunburst Financial Group LLC’s holdings in Regions Financial were worth $866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RF. EntryPoint Capital LLC acquired a new stake in Regions Financial during the 1st quarter worth approximately $26,000. American National Bank & Trust increased 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 valued at $27,000 after acquiring an additional 1,114 shares in the last quarter. Quarry LP raised its position 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 acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Regions Financial by 530.0% during 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 in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Regions Financial in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research report on Tuesday. Royal Bank of Canada raised their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Truist Financial increased their price target on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.06.

Regions Financial Price Performance

Regions Financial stock traded up $0.33 during mid-day trading on Wednesday, hitting $24.20. The company’s stock had a trading volume of 2,127,342 shares, compared to its average volume of 7,899,194. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $22.16 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.54 and a beta of 1.17. The stock’s fifty day moving average price is $22.99 and its two-hundred day moving average price is $21.07. Regions Financial Co. has a twelve month low of $14.27 and a twelve month high of $24.47.

Regions Financial (NYSE:RF) last posted 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). The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. Research analysts forecast that Regions Financial Co. will post 2.05 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is currently 54.35%.

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.