Apollon Wealth Management LLC Raises Stock Position in Regions Financial Co. (NYSE:RF)

Apollon Wealth Management LLC grew its holdings in Regions Financial Co. (NYSE:RF) by 23.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 20,287 shares of the bank’s stock after acquiring an additional 3,863 shares during the period. Apollon Wealth Management LLC’s holdings in Regions Financial were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. EntryPoint Capital LLC bought a new position in Regions Financial in the 1st quarter worth approximately $26,000. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares during the last quarter. Quarry LP grew its stake in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Regions Financial by 530.0% in the 2nd 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 last quarter. Finally, Innealta Capital LLC purchased a new stake in Regions Financial in the 2nd quarter worth $32,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RF. Evercore ISI lifted their target price on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Truist Financial upped their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Wedbush raised their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, October 24th. Finally, DA Davidson lifted their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.18.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $26.36 on Friday. Regions Financial Co. has a 52 week low of $15.79 and a 52 week high of $26.73. The company has a market capitalization of $23.96 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. The stock’s fifty day moving average is $23.61 and its two-hundred day moving average is $21.58. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

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 company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, analysts expect that Regions Financial Co. will post 2.1 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. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.79%. Regions Financial’s dividend payout ratio (DPR) is currently 56.50%.

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.