Regions Financial Co. (NYSE:RF) Stake Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in shares of Regions Financial Co. (NYSE:RF) by 7,751.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,393 shares of the bank’s stock after purchasing an additional 112,936 shares during the period. Exchange Traded Concepts LLC’s holdings in Regions Financial were worth $2,669,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust grew its stake 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 purchasing an additional 1,114 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Regions Financial in the first quarter valued at $26,000. Quarry LP lifted its position in shares of Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares during the last quarter. MV Capital Management Inc. boosted its stake in shares of Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings 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 acquiring an additional 1,256 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Up 0.8 %

Shares of NYSE:RF opened at $23.88 on Tuesday. The stock has a market capitalization of $21.87 billion, a PE ratio of 12.98, a P/E/G ratio of 2.80 and a beta of 1.17. The firm has a fifty day moving average price of $22.39 and a 200 day moving average price of $20.79. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $23.97. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s revenue was down 11.5% on a year-over-year basis. Analysts expect that Regions Financial Co. will post 2.02 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Tuesday, September 3rd. Regions Financial’s dividend payout ratio is presently 54.35%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RF. Wells Fargo & Company increased their price target on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley upped their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group lifted their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.86.

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.