Tower Bridge Advisors Takes $206,000 Position in Regions Financial Co. (NYSE:RF)

Tower Bridge Advisors bought a new stake in shares of Regions Financial Co. (NYSE:RF) during the third quarter, Holdings Channel.com reports. The fund bought 8,809 shares of the bank’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in shares of Regions Financial by 281.7% during the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after purchasing an additional 58,739 shares during the last quarter. UniSuper Management Pty Ltd lifted its holdings in Regions Financial by 1,075.7% in the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock valued at $942,000 after acquiring an additional 40,972 shares during the last quarter. Swedbank AB acquired a new position in Regions Financial in the first quarter valued at approximately $19,322,000. National Pension Service lifted its holdings in Regions Financial by 6.3% in the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after acquiring an additional 102,380 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Regions Financial by 47.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock valued at $5,666,000 after acquiring an additional 89,045 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Up 0.3 %

NYSE RF opened at $26.36 on Monday. The stock has a market capitalization of $23.96 billion, a P/E ratio of 14.89, a P/E/G ratio of 2.76 and a beta of 1.16. Regions Financial Co. has a 52-week low of $15.79 and a 52-week high of $26.73. The firm has a 50-day moving average price of $23.61 and a 200 day moving average price of $21.60. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last issued its earnings results 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). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business posted $0.49 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Equities research analysts expect that Regions Financial Co. will post 2.1 EPS for the current year.

Regions Financial Dividend Announcement

The firm 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 dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.79%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Analyst Ratings Changes

A number of analysts have issued reports on RF shares. Royal Bank of Canada boosted their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. 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 report on Thursday, October 24th. 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 report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.18.

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.