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.
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.
COPYRIGHT VIOLATION NOTICE: “Main Street Research LLC Has $18.28 Million Holdings in Regions Financial Corp (RF)” was originally posted by WKRB News and is owned by of WKRB News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.wkrb13.com/2018/11/07/main-street-research-llc-has-18-28-million-holdings-in-regions-financial-corp-rf.html.
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.
Further Reading: What are the risks of holding treasury bonds?
Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corp (NYSE:RF).
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.