Vest Financial LLC Acquires 884,478 Shares of Regions Financial Corporation $RF

Vest Financial LLC lifted its stake in Regions Financial Corporation (NYSE:RF) by 44.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,876,112 shares of the bank’s stock after purchasing an additional 884,478 shares during the period. Regions Financial comprises about 0.8% of Vest Financial LLC’s holdings, making the stock its 28th largest holding. Vest Financial LLC’s holdings in Regions Financial were worth $77,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Regions Financial by 12.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,028 shares of the bank’s stock valued at $3,199,000 after acquiring an additional 13,064 shares during the period. Investment Research Partners LLC raised its holdings in Regions Financial by 9.3% in the 3rd quarter. Investment Research Partners LLC now owns 40,158 shares of the bank’s stock valued at $1,079,000 after acquiring an additional 3,408 shares during the last quarter. First Bank & Trust increased its position in Regions Financial by 423.4% during the third quarter. First Bank & Trust now owns 67,686 shares of the bank’s stock worth $1,819,000 after purchasing an additional 54,755 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Regions Financial by 5.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 35,424 shares of the bank’s stock worth $952,000 after purchasing an additional 1,947 shares during the period. Finally, Eastern Bank increased its position in shares of Regions Financial by 30.7% in the third quarter. Eastern Bank now owns 3,839 shares of the bank’s stock worth $103,000 after acquiring an additional 901 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Citigroup reduced their target price on shares of Regions Financial from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial decreased their target price on shares of Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday. Stephens reaffirmed an “outperform” rating on shares of Regions Financial in a report on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Thursday, October 15th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.12.

Regions Financial Trading Up 0.7%

Shares of RF opened at $28.05 on Thursday. The company has a market capitalization of $23.90 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.12 and a beta of 1.05. Regions Financial Corporation has a one year low of $23.59 and a one year high of $32.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a 50-day moving average price of $28.89 and a 200 day moving average price of $29.03.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, October 16th. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $0.63 EPS. Regions Financial’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Corporation will post 2.70 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.3%. Regions Financial’s dividend payout ratio (DPR) is presently 47.06%.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.