Edgestream Partners L.P. Invests $3.57 Million in Regions Financial Co. (NYSE:RF)

Edgestream Partners L.P. acquired a new position in Regions Financial Co. (NYSE:RF) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 152,787 shares of the bank’s stock, valued at approximately $3,565,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RF. American National Bank & Trust grew its position 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 worth $27,000 after buying an additional 1,114 shares during the last quarter. Quarry LP grew its position in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares during the last quarter. Innealta Capital LLC purchased a new stake in Regions Financial during the 2nd quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new stake in Regions Financial during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $27.26 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a fifty day moving average price of $24.50 and a 200 day moving average price of $22.11. The stock has a market cap of $24.78 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.82 and a beta of 1.16. Regions Financial Co. has a 1 year low of $16.51 and a 1 year 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 for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’s revenue 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. Equities research analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 56.50%.

Analyst Upgrades and Downgrades

RF has been the topic of several research analyst reports. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research report on Tuesday, October 29th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Citigroup boosted their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

About Regions Financial

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.