Saudi Central Bank Buys 27,436 Shares of Regions Financial Corporation $RF

Saudi Central Bank increased its stake in shares of Regions Financial Corporation (NYSE:RF) by 84.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,803 shares of the bank’s stock after buying an additional 27,436 shares during the quarter. Saudi Central Bank’s holdings in Regions Financial were worth $1,806,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RF. Root Financial Partners LLC boosted its stake in shares of Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after purchasing an additional 346 shares in the last quarter. WPG Advisers LLC increased its position in shares of Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after purchasing an additional 370 shares in the last quarter. Master S Wealth Management Inc. increased its position in shares of Regions Financial by 1.0% during the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock worth $1,009,000 after purchasing an additional 372 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Regions Financial by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock valued at $911,000 after purchasing an additional 373 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID lifted its holdings in Regions Financial by 17.3% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock valued at $68,000 after purchasing an additional 381 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Trading Down 1.1%

RF stock opened at $30.10 on Wednesday. The business has a fifty day moving average of $30.90 and a 200-day moving average of $28.80. The company has a market cap of $25.64 billion, a P/E ratio of 12.28, a PEG ratio of 1.25 and a beta of 0.99. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF) last announced 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. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 48.98%.

Analyst Ratings Changes

Several brokerages have weighed in on RF. Wells Fargo & Company upped their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Citigroup boosted their price objective on Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. UBS Group raised their target price on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.29.

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.