Cibc World Market Inc. Acquires Shares of 90,123 Regions Financial Corporation $RF

Cibc World Market Inc. bought a new position in shares of Regions Financial Corporation (NYSE:RF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 90,123 shares of the bank’s stock, valued at approximately $2,722,000.

Other institutional investors have also made changes to their positions in the company. WPG Advisers LLC raised its stake in Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares during the period. Keating Financial Advisory Services Inc. bought a new position in Regions Financial during the second quarter worth $25,000. Darwin Wealth Management LLC bought a new position in Regions Financial during the second quarter worth $25,000. Trust Co. of Vermont acquired a new position in shares of Regions Financial in the second quarter valued at $26,000. Finally, SouthState Bank Corp raised its position in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Up 0.4%

Shares of RF stock opened at $30.74 on Thursday. The stock has a market cap of $26.19 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $30.77 and a 200 day simple moving average of $28.81.

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

Regions Financial Increases Dividend

The company 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 dividend of $0.30 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Citigroup increased their price target on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Evercore restated an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Royal Bank Of Canada restated an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a report on Monday, July 20th. Finally, Stephens started coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Regions Financial has an average rating of “Hold” and a consensus target price of $32.24.

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.