Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Position in Regions Financial Co. (NYSE:RF)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Regions Financial Co. (NYSE:RF) by 22.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,216 shares of the bank’s stock after acquiring an additional 2,822 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Regions Financial were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. American National Bank & Trust boosted its stake in Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after buying an additional 1,114 shares in the last quarter. Quarry LP lifted its holdings in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Regions Financial in the 3rd quarter valued at $37,000. Legacy Investment Solutions LLC bought a new position in shares of Regions Financial during the 3rd quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC raised its position in Regions Financial by 163.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank’s stock worth $56,000 after purchasing an additional 1,483 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.5 %

RF stock opened at $24.64 on Thursday. The company has a market capitalization of $22.39 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. Regions Financial Co. has a 12 month low of $17.42 and a 12 month high of $27.96. The firm’s fifty day simple moving average is $24.86 and its 200-day simple moving average is $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 released its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $0.39 EPS. The company’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Regions Financial Co. will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RF shares. Morgan Stanley reissued an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Wells Fargo & Company raised their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Citigroup upped their price objective on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Piper Sandler raised their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Wedbush upped their price target on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One equities 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.