Perigon Wealth Management LLC Raises Stock Holdings in Regions Financial Co. (NYSE:RF)

Perigon Wealth Management LLC grew its stake in Regions Financial Co. (NYSE:RF) by 407.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,465 shares of the bank’s stock after buying an additional 75,038 shares during the quarter. Perigon Wealth Management LLC’s holdings in Regions Financial were worth $2,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RF. Marshall Wace LLP purchased a new stake in Regions Financial in the second quarter worth about $581,000. AQR Capital Management LLC increased its position in Regions Financial by 27.8% in the second quarter. AQR Capital Management LLC now owns 200,379 shares of the bank’s stock worth $3,933,000 after buying an additional 43,557 shares in the last quarter. Creative Planning increased its position in Regions Financial by 38.8% in the second quarter. Creative Planning now owns 198,892 shares of the bank’s stock worth $3,986,000 after buying an additional 55,624 shares in the last quarter. NewEdge Advisors LLC increased its position in Regions Financial by 6.7% in the second quarter. NewEdge Advisors LLC now owns 57,792 shares of the bank’s stock worth $1,158,000 after buying an additional 3,638 shares in the last quarter. Finally, Quarry LP increased its position in 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. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

NYSE:RF opened at $24.64 on Thursday. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.94 and a beta of 1.21. Regions Financial Co. has a 1 year low of $17.42 and a 1 year high of $27.96. The business has a 50 day simple moving average of $24.86 and a 200-day simple moving average of $23.63. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $0.39 EPS. Equities analysts forecast that Regions Financial Co. will post 2.27 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on RF shares. Evercore ISI increased their target price on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Citigroup increased their target price on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Barclays increased their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Wells Fargo & Company increased their target price on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial 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.