Summit Financial Wealth Advisors LLC Takes Position in Regions Financial Co. (NYSE:RF)

Summit Financial Wealth Advisors LLC purchased a new position in Regions Financial Co. (NYSE:RF) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,718 shares of the bank’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in Regions Financial in the first quarter valued at approximately $26,000. American National Bank & Trust raised its holdings 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 valued at $27,000 after purchasing an additional 1,114 shares in the last quarter. Quarry LP lifted its stake in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings 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 in the last quarter. Finally, Innealta Capital LLC acquired a new position in Regions Financial during the second quarter worth $32,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $27.47 on Tuesday. Regions Financial Co. has a twelve month low of $15.79 and a twelve month high of $27.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $24.97 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.83 and a beta of 1.16. The firm’s 50-day simple moving average is $24.16 and its 200-day simple moving average is $21.91.

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

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Barclays upped their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, DA Davidson upped their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. One research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.41.

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.