33,049 Shares in Regions Financial Corporation $RF Bought by Invst LLC

Invst LLC bought a new position in Regions Financial Corporation (NYSE:RF) during the 2nd quarter, HoldingsChannel reports. The fund bought 33,049 shares of the bank’s stock, valued at approximately $998,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Regions Financial during the fourth quarter valued at approximately $254,564,000. Victory Capital Management Inc. lifted its position in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the period. First Trust Advisors LP boosted its stake in shares of Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Regions Financial during the 2nd quarter valued at about $163,654,000. Finally, Korea Investment CORP purchased a new position in shares of Regions Financial during the second quarter valued at about $99,190,000. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RF has been the subject of a number of research reports. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price target on shares of Regions Financial in a research note on Friday, July 17th. Evercore reaffirmed an “underperform” rating and issued a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Stephens began coverage on Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective for the company. Cantor Fitzgerald boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Citigroup upped their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial Stock Up 0.1%

Shares of Regions Financial stock opened at $30.66 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $26.12 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a 50-day simple moving average of $30.73 and a two-hundred day simple moving average of $28.80.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s payout ratio is currently 43.27%.

Regions Financial Company Profile

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.