Greenwood Capital Associates LLC Buys Shares of 42,355 Regions Financial Co. (NYSE:RF)

Greenwood Capital Associates LLC bought a new stake in Regions Financial Co. (NYSE:RF) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 42,355 shares of the bank’s stock, valued at approximately $988,000.

Several other large investors also recently bought and sold shares of the company. Private Advisor Group LLC grew its holdings in Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the last quarter. CWM LLC grew its holdings in Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Regions Financial by 2.4% in the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after purchasing an additional 506 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Regions Financial by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock valued at $473,000 after acquiring an additional 545 shares during the last quarter. Finally, IFG Advisory LLC boosted its stake in shares of Regions Financial by 1.8% during the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after acquiring an additional 546 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America increased their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price objective on Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, October 24th. DA Davidson increased their price objective on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.45.

Regions Financial Stock Performance

Regions Financial stock opened at $23.62 on Wednesday. The stock’s 50-day moving average is $23.12 and its 200-day moving average is $21.24. The company has a market cap of $21.62 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 12 month low of $14.86 and a 12 month high of $24.47.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, October 18th. The bank reported $0.49 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. Equities analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.23%. Regions Financial’s payout ratio is currently 56.50%.

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.