Private Trust Co. NA Buys 1,321 Shares of Regions Financial Co. (NYSE:RF)

Private Trust Co. NA raised its stake in shares of Regions Financial Co. (NYSE:RF) by 26.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,309 shares of the bank’s stock after purchasing an additional 1,321 shares during the period. Private Trust Co. NA’s holdings in Regions Financial were worth $147,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in shares of Regions Financial in the third quarter worth $37,000. DRW Securities LLC purchased a new stake in Regions Financial in the 3rd quarter worth $1,659,000. Independent Advisor Alliance raised its holdings in Regions Financial by 3.2% during the third quarter. Independent Advisor Alliance now owns 42,381 shares of the bank’s stock valued at $989,000 after acquiring an additional 1,315 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Regions Financial by 11.1% in the third quarter. Daiwa Securities Group Inc. now owns 111,293 shares of the bank’s stock valued at $2,596,000 after acquiring an additional 11,087 shares in the last quarter. Finally, Centaurus Financial Inc. grew its position in shares of Regions Financial by 5.9% during the third quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock worth $228,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $27.26 on Friday. Regions Financial Co. has a 12-month low of $16.51 and a 12-month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $24.50 and a 200-day moving average price of $22.08. The firm has a market capitalization of $24.78 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.82 and a beta of 1.16.

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

Regions Financial Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup boosted their price target on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. DA Davidson upped their target price on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Truist Financial lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Regions Financial Company 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.