Main Street Research LLC Has $18.28 Million Holdings in Regions Financial Corp (RF)

Main Street Research LLC lifted its stake in Regions Financial Corp (NYSE:RF) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 995,966 shares of the bank’s stock after acquiring an additional 43,968 shares during the period. Regions Financial accounts for approximately 2.6% of Main Street Research LLC’s holdings, making the stock its 11th biggest position. Main Street Research LLC’s holdings in Regions Financial were worth $18,276,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in Regions Financial by 87.3% during the second quarter. Parallel Advisors LLC now owns 6,062 shares of the bank’s stock valued at $107,000 after purchasing an additional 2,825 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Regions Financial during the third quarter valued at approximately $114,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Regions Financial by 8,481.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,522 shares of the bank’s stock valued at $116,000 after purchasing an additional 6,446 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Regions Financial during the second quarter valued at approximately $116,000. Finally, Advisory Services Network LLC lifted its stake in Regions Financial by 61.6% during the second quarter. Advisory Services Network LLC now owns 7,694 shares of the bank’s stock valued at $141,000 after purchasing an additional 2,933 shares during the last quarter. 73.85% of the stock is owned by institutional investors.

RF stock opened at $17.64 on Wednesday. Regions Financial Corp has a 52-week low of $15.06 and a 52-week high of $20.21. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80. The company has a market cap of $19.03 billion, a PE ratio of 17.64, a PEG ratio of 0.97 and a beta of 1.29.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.04). Regions Financial had a net margin of 26.39% and a return on equity of 10.15%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Corp will post 1.44 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.17%. Regions Financial’s dividend payout ratio is currently 56.00%.

RF has been the subject of several recent research reports. Wedbush set a $22.00 target price on shares of Regions Financial and gave the company a “buy” rating in a research note on Friday, September 7th. Vining Sparks reissued a “buy” rating and set a $22.00 target price on shares of Regions Financial in a research note on Tuesday, October 9th. B. Riley set a $20.00 target price on shares of Regions Financial and gave the company a “hold” rating in a research note on Monday, October 15th. Finally, Raymond James cut their target price on shares of Regions Financial from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $18.91.

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Regions Financial Company Profile

Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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