26,908 Shares in Regions Financial Corporation $RF Bought by L2 Asset Management LLC

L2 Asset Management LLC purchased a new position in Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,908 shares of the bank’s stock, valued at approximately $813,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WPG Advisers LLC lifted its position in shares of Regions Financial by 83.5% in the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Regions Financial during the second quarter worth about $25,000. Trust Co. of Vermont bought a new stake in Regions Financial during the 2nd quarter valued at approximately $26,000. Gables Capital Management Inc. bought a new stake in Regions Financial during the 2nd quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC purchased a new position in Regions Financial in the 2nd quarter worth approximately $25,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Up 0.7%

Shares of RF stock opened at $30.62 on Tuesday. 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 market capitalization of $26.09 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. The stock’s 50-day moving average price is $30.70 and its 200-day moving average price is $28.80.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $1.95 billion during 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 firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. Equities research analysts predict that Regions Financial Corporation will post 2.63 EPS 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. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. 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. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. Regions Financial’s payout ratio is currently 48.98%.

Wall Street Analyst Weigh In

RF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Evercore reiterated an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. DA Davidson lifted their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Finally, Wells Fargo & Company upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.24.

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.