Cerity Partners LLC Has $17.43 Million Holdings in Regions Financial Corporation $RF

Cerity Partners LLC grew its position in Regions Financial Corporation (NYSE:RF) by 16.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 660,946 shares of the bank’s stock after acquiring an additional 91,252 shares during the period. Cerity Partners LLC’s holdings in Regions Financial were worth $17,429,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Centaurus Financial Inc. increased its holdings in Regions Financial by 3.9% in the 2nd quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after purchasing an additional 382 shares in the last quarter. Hardy Reed LLC boosted its stake in shares of Regions Financial by 1.6% during the second quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock valued at $606,000 after purchasing an additional 404 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in shares of Regions Financial by 0.6% during the second quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock worth $1,703,000 after purchasing an additional 427 shares during the last quarter. Fairvoy Private Wealth LLC increased its stake in shares of Regions Financial by 1.9% in the third quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock valued at $624,000 after buying an additional 449 shares during the period. Finally, Signet Financial Management LLC increased its stake in shares of Regions Financial by 4.6% in the second quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock valued at $256,000 after buying an additional 483 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Evercore ISI cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $27.00 to $29.00 in a research note on Tuesday. Stephens reaffirmed an “equal weight” rating and set a $27.00 target price (down from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Regions Financial in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.93.

Regions Financial Price Performance

RF stock opened at $28.52 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.03 and a beta of 1.03. The company’s fifty day simple moving average is $26.33 and its 200 day simple moving average is $25.80. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $29.25.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The firm had revenue of $1.81 billion during the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a $0.265 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.06 annualized dividend and a yield of 3.7%. Regions Financial’s payout ratio is 46.70%.

Regions Financial declared that its board has initiated a share buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 12.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.