Fortem Financial Group LLC Acquires 1,289 Shares of Regions Financial Co. (NYSE:RF)

Fortem Financial Group LLC grew its stake in shares of Regions Financial Co. (NYSE:RF) by 4.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,777 shares of the bank’s stock after purchasing an additional 1,289 shares during the period. Fortem Financial Group LLC’s holdings in Regions Financial were worth $648,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Toronto Dominion Bank boosted its holdings in Regions Financial by 69.6% during the 3rd quarter. Toronto Dominion Bank now owns 452,254 shares of the bank’s stock worth $10,551,000 after acquiring an additional 185,520 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Regions Financial by 5.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 137,812 shares of the bank’s stock worth $3,222,000 after buying an additional 6,602 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after acquiring an additional 315,605 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Regions Financial by 2.6% during the third quarter. Public Employees Retirement System of Ohio now owns 359,381 shares of the bank’s stock valued at $8,384,000 after acquiring an additional 9,047 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Regions Financial by 1.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 274,779 shares of the bank’s stock worth $6,411,000 after acquiring an additional 2,751 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Compass Point upped their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday. Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, October 24th. Citigroup lifted their price objective on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wedbush increased their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Evercore ISI lifted their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and an average price target of $27.61.

Regions Financial Stock Down 1.6 %

Shares of NYSE:RF opened at $25.33 on Wednesday. The firm has a fifty day moving average of $24.96 and a 200 day moving average of $22.43. Regions Financial Co. has a 52-week low of $17.18 and a 52-week high of $27.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $23.02 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 2.72 and a beta of 1.19.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, research analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Regions Financial Company 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.