Thrivent Financial for Lutherans Purchases 6,665 Shares of Regions Financial Co. (NYSE:RF)

Thrivent Financial for Lutherans grew its position in shares of Regions Financial Co. (NYSE:RF) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,453 shares of the bank’s stock after acquiring an additional 6,665 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Regions Financial were worth $1,855,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tower Bridge Advisors acquired a new position in Regions Financial during the third quarter worth $206,000. Natixis Advisors LLC grew its holdings in shares of Regions Financial by 9.0% in the 3rd quarter. Natixis Advisors LLC now owns 146,031 shares of the bank’s stock valued at $3,407,000 after acquiring an additional 12,033 shares in the last quarter. Empirical Finance LLC increased its position in shares of Regions Financial by 2.1% in the third quarter. Empirical Finance LLC now owns 32,560 shares of the bank’s stock valued at $760,000 after acquiring an additional 669 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Regions Financial by 6.8% in the third quarter. CIBC Asset Management Inc now owns 157,600 shares of the bank’s stock valued at $3,677,000 after acquiring an additional 10,026 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in Regions Financial by 5.7% during the third quarter. Chase Investment Counsel Corp now owns 13,551 shares of the bank’s stock worth $316,000 after acquiring an additional 733 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

RF stock opened at $27.25 on Friday. Regions Financial Co. has a 1 year low of $15.82 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $24.77 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 2.85 and a beta of 1.16. 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 announced 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). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. Research analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

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. 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%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial boosted their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Citigroup boosted their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.