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

Glenmede Trust Co. NA raised its position in shares of Regions Financial Co. (NYSE:RF) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 620,467 shares of the bank’s stock after acquiring an additional 17,753 shares during the quarter. Glenmede Trust Co. NA owned about 0.07% of Regions Financial worth $14,475,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RF. Cadence Bank boosted its stake in Regions Financial by 2.4% during the third quarter. Cadence Bank now owns 78,171 shares of the bank’s stock worth $1,824,000 after acquiring an additional 1,834 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Regions Financial in the 3rd quarter valued at about $174,000. FMR LLC increased its position in Regions Financial by 8.4% in the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after buying an additional 241,838 shares in the last quarter. Summit Financial Wealth Advisors LLC acquired a new position in Regions Financial during the 3rd quarter worth approximately $203,000. Finally, Dai ichi Life Insurance Company Ltd bought a new position in Regions Financial in the third quarter worth approximately $2,156,000. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on RF. DA Davidson boosted their price objective on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Evercore ISI boosted their price target on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Truist Financial raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Finally, Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and an average target price of $26.71.

Regions Financial Stock Performance

NYSE RF opened at $27.25 on Friday. The company has a market capitalization of $24.77 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 52-week low of $15.82 and a 52-week high of $27.96. The company has a 50-day simple moving average of $24.42 and a 200 day simple moving average of $22.03.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts predict that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. Regions Financial’s payout ratio is 56.50%.

About Regions Financial

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.