Regions Financial Corporation $RF Stock Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lifted its position in shares of Regions Financial Corporation (NYSE:RF) by 75.9% in the 3rd quarter, Holdings Channel reports. The fund owned 91,199 shares of the bank’s stock after buying an additional 39,362 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Regions Financial were worth $2,451,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in RF. WPG Advisers LLC raised its stake in Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares during the period. Legacy Wealth Managment LLC ID boosted its position in Regions Financial by 17.3% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after purchasing an additional 381 shares during the period. Wedmont Private Capital boosted its position in Regions Financial by 4.7% during the second quarter. Wedmont Private Capital now owns 9,344 shares of the bank’s stock worth $290,000 after purchasing an additional 418 shares during the period. CX Institutional increased its stake in shares of Regions Financial by 3.3% in the second quarter. CX Institutional now owns 14,063 shares of the bank’s stock worth $425,000 after purchasing an additional 449 shares in the last quarter. Finally, Everpar Advisors LLC raised its position in shares of Regions Financial by 5.3% in the second quarter. Everpar Advisors LLC now owns 9,038 shares of the bank’s stock valued at $273,000 after purchasing an additional 451 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RF shares. JPMorgan Chase & Co. raised their price objective on shares of Regions Financial from $30.50 to $31.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen assumed coverage on shares of Regions Financial in a report on Thursday, October 8th. They set a “hold” rating and a $30.00 target price on the stock. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a report on Friday, September 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 price target on shares of Regions Financial in a research report on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.00.

Regions Financial Price Performance

RF stock opened at $28.59 on Friday. The firm has a 50 day moving average of $28.53 and a 200-day moving average of $28.68. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.36. Regions Financial Corporation has a 12 month low of $23.59 and a 12 month high of $32.47. The firm has a market capitalization of $24.36 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.17 and a beta of 1.05.

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

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Regions Financial’s dividend payout ratio (DPR) is presently 47.06%.

About Regions Financial

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.