Benjamin Edwards Inc. Buys 282,728 Shares of Regions Financial Co. (NYSE:RF)

Benjamin Edwards Inc. increased its stake in Regions Financial Co. (NYSE:RF) by 13,948.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,755 shares of the bank’s stock after buying an additional 282,728 shares during the quarter. Benjamin Edwards Inc.’s holdings in Regions Financial were worth $6,643,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American National Bank & Trust lifted its stake in shares of 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 last quarter. Quarry LP increased its stake in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Regions Financial by 530.0% during the second 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. Truvestments Capital LLC purchased a new stake in shares of Regions Financial during the third quarter valued at $37,000. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial in the second quarter worth about $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

NYSE RF opened at $26.35 on Wednesday. Regions Financial Co. has a 12-month low of $16.86 and a 12-month high of $27.96. The firm’s fifty day simple moving average is $24.65 and its two-hundred day simple moving average is $22.20. 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 market capitalization of $23.94 billion, a P/E ratio of 14.88, a P/E/G ratio of 2.75 and a beta of 1.19.

Regions Financial (NYSE:RF) last released its quarterly earnings results 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 net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts forecast that Regions Financial Co. will post 2.12 EPS 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.80%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 56.50%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RF. Wedbush boosted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Piper Sandler boosted their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Evercore ISI lifted their target price on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, DA Davidson increased their price target on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.18.

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.