Regions Financial Corporation $RF Shares Sold by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC trimmed its holdings in Regions Financial Corporation (NYSE:RF) by 56.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,324 shares of the bank’s stock after selling 19,720 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Regions Financial were worth $463,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in shares of Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares during the period. Woodline Partners LP grew its position in Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after buying an additional 22,216 shares in the last quarter. Baird Financial Group Inc. grew its position in Regions Financial by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after buying an additional 511 shares in the last quarter. Federated Hermes Inc. increased its stake in Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after buying an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after buying an additional 6,690 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RF. Cantor Fitzgerald upped their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. 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 for the company. Finally, Wells Fargo & Company increased their price target on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.24.

Regions Financial Stock Performance

NYSE:RF opened at $31.91 on Friday. The company has a 50-day moving average of $30.44 and a 200-day moving average of $28.70. The firm has a market cap of $27.18 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47.

Regions Financial (NYSE:RF) last released its earnings results 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 net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is currently 43.27%.

Regions Financial 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.