Glenmede Trust Co. NA Acquires 17,753 Shares of Regions Financial Co. (NYSE:RF)

Glenmede Trust Co. NA grew its stake in shares of Regions Financial Co. (NYSE:RF) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 620,467 shares of the bank’s stock after acquiring an additional 17,753 shares during the period. Glenmede Trust Co. NA’s holdings in Regions Financial were worth $14,475,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. American National Bank & Trust lifted its holdings in Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares in the last quarter. Quarry LP lifted its holdings in shares of Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares during the period. Truvestments Capital LLC purchased a new position in Regions Financial during the third quarter valued at approximately $37,000. Finally, Innealta Capital LLC bought a new stake in Regions Financial during the 2nd quarter worth approximately $32,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Down 0.2 %

Shares of RF stock opened at $27.25 on Friday. The business has a 50-day moving average of $24.42 and a 200 day moving average of $22.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $15.82 and a 1-year high of $27.96. The stock has a market capitalization of $24.77 billion, a PE ratio of 15.40, a P/E/G ratio of 2.85 and a beta of 1.16.

Regions Financial (NYSE:RF) last released 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). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company posted $0.49 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Analyst Upgrades and Downgrades

RF has been the subject of several analyst reports. Citigroup raised their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. DA Davidson raised their price target on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays lifted their price target on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Finally, Wedbush upped their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

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.