123,093 Shares in Regions Financial Corporation $RF Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management acquired 123,093 shares of Regions Financial in the second quarter, valued at approximately $3.7 million. Institutional investors and hedge funds collectively own 79.39% of the company.
• Analyst sentiment remains mixed, with six Buy, ten Hold, and four Sell ratings. The stock has an average rating of “Hold” and a consensus price target of $32.24.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 in EPS versus $0.63 expected, and raised its quarterly dividend to $0.30 per share, implying a 3.9% annual yield.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 123,093 shares of the bank's stock, valued at approximately $3,717,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WPG Advisers LLC boosted its holdings in shares of 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 last quarter. Keating Financial Advisory Services Inc. purchased a new position in shares of Regions Financial during the second quarter worth $25,000. Trust Co. of Vermont acquired a new position in Regions Financial during the second quarter valued at $26,000. Gables Capital Management Inc. acquired a new position in Regions Financial during the second quarter valued at $30,000. Finally, Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter valued at $25,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RF shares. Stephens assumed coverage on Regions Financial in a research report on Monday, June 15th. They set an "equal weight" rating and a $31.00 price target on the stock. Evercore reissued an "underperform" rating and issued a $31.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Citigroup upped their target price on Regions Financial from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Morgan Stanley raised their target price on Regions Financial from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $32.00 price target on shares of Regions Financial in a research report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $32.24.

Regions Financial Price Performance

NYSE:RF opened at $30.62 on Tuesday. 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 Corporation has a 52 week low of $22.70 and a 52 week 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. The stock has a market capitalization of $26.09 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.Regions Financial's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. As a group, equities analysts expect 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. Stockholders of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial's dividend payout ratio (DPR) is presently 48.98%.

About Regions Financial

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.

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