Legacy Investment Solutions LLC Purchases New Stake in Regions Financial Co. (NYSE:RF)

Legacy Investment Solutions LLC acquired a new position in shares of Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,605 shares of the bank’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its position in shares of Regions Financial by 1.8% in the 2nd quarter. CWM LLC now owns 41,866 shares of the bank’s stock worth $839,000 after acquiring an additional 729 shares in the last quarter. Czech National Bank boosted its holdings in Regions Financial by 7.3% in the second quarter. Czech National Bank now owns 174,520 shares of the bank’s stock worth $3,497,000 after purchasing an additional 11,901 shares during the period. RFG Advisory LLC increased its stake in Regions Financial by 5.9% during the second quarter. RFG Advisory LLC now owns 59,161 shares of the bank’s stock valued at $1,186,000 after purchasing an additional 3,279 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Regions Financial by 12.3% during the second quarter. Sequoia Financial Advisors LLC now owns 19,722 shares of the bank’s stock worth $395,000 after purchasing an additional 2,157 shares during the period. Finally, M&G Plc bought a new position in shares of Regions Financial in the 2nd quarter worth about $10,417,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF opened at $26.26 on Monday. The firm has a market capitalization of $23.87 billion, a PE ratio of 14.84, a P/E/G ratio of 2.72 and a beta of 1.19. 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 firm has a 50-day moving average price of $24.85 and a 200 day moving average price of $22.34. Regions Financial Co. has a 52-week low of $16.86 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data 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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business earned $0.49 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 56.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RF shares. Wedbush increased their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. DA Davidson upped their target price on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus target price 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.