Kennebec Savings Bank Acquires Shares of 2,560 Regions Financial Co. (NYSE:RF)

Kennebec Savings Bank acquired a new stake in Regions Financial Co. (NYSE:RF) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,560 shares of the bank’s stock, valued at approximately $60,000.

A number of other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Regions Financial by 20.8% during the 1st quarter. Empowered Funds LLC now owns 54,856 shares of the bank’s stock valued at $1,154,000 after purchasing an additional 9,445 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Regions Financial by 1.3% during the 1st quarter. Sei Investments Co. now owns 471,222 shares of the bank’s stock valued at $9,914,000 after purchasing an additional 5,962 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Regions Financial by 16.3% during the first quarter. QRG Capital Management Inc. now owns 115,171 shares of the bank’s stock worth $2,423,000 after acquiring an additional 16,159 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Regions Financial by 30.9% during the first quarter. Russell Investments Group Ltd. now owns 2,577,350 shares of the bank’s stock worth $54,184,000 after acquiring an additional 607,799 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new stake in Regions Financial during the first quarter worth about $287,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 2.3 %

Shares of RF stock opened at $26.20 on Tuesday. Regions Financial Co. has a 12 month low of $14.86 and a 12 month high of $26.33. The stock has a market cap of $23.81 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.68 and a beta of 1.16. 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 company has a 50 day simple moving average of $23.27 and a two-hundred day simple moving average of $21.38.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. On average, research analysts expect that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

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. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.82%. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.45.

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.