Gilliland Jeter Wealth Management LLC Has $270,000 Holdings in Regions Financial Co. (NYSE:RF)

Gilliland Jeter Wealth Management LLC lifted its stake in shares of Regions Financial Co. (NYSE:RF) by 110.3% during the third quarter, Holdings Channel.com reports. The firm owned 11,592 shares of the bank’s stock after buying an additional 6,081 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Regions Financial were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RF. EntryPoint Capital LLC bought a new position in Regions Financial in the 1st quarter worth approximately $26,000. American National Bank & Trust increased its stake in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares during the period. Quarry LP raised its position in shares of 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. MV Capital Management Inc. boosted its holdings in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Regions Financial by 530.0% in 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 period. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Performance

RF opened at $23.82 on Monday. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 2.80 and a beta of 1.17. The business’s 50-day moving average price is $22.65 and its two-hundred day moving average price is $20.89. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $24.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 18th. The bank reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $0.49 EPS. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts expect that Regions Financial Co. will post 2.02 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 54.35%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company raised their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Evercore ISI raised their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their price objective on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.86.

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.