53,002 Shares in Regions Financial Corporation $RF Bought by Commerce Bank

Key Points

• Commerce Bank acquired 53,002 shares of Regions Financial in the second quarter, valued at approximately $1.6 million. Institutional investors collectively own 79.39% of the company.
• Regions Financial reported quarterly EPS of $0.68, exceeding estimates of $0.63, while revenue reached $1.95 billion. Analysts expect full-year EPS of $2.63.
• The bank raised its quarterly dividend to $0.30 per share, implying a 3.9% annualized yield. Analysts’ consensus rating remains “Hold,” with an average price target of $32.24 versus the stock’s $30.66 opening price.

Commerce Bank bought a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 53,002 shares of the bank's stock, valued at approximately $1,601,000.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC lifted its stake in 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 acquiring an additional 346 shares in the last quarter. WPG Advisers LLC raised its holdings 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 purchasing an additional 370 shares during the last quarter. Master S Wealth Management Inc. lifted its position in shares of Regions Financial by 1.0% in the first 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 position in shares of Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank's stock worth $911,000 after purchasing an additional 373 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its holdings in Regions Financial by 17.3% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank's stock worth $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 Stock Up 0.1%

Regions Financial stock opened at $30.66 on Wednesday. The firm has a market capitalization of $26.12 billion, a PE ratio of 12.52, a P/E/G ratio of 1.17 and a beta of 1.00. The company's 50-day moving average is $30.73 and its 200-day moving average is $28.80. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the firm earned $0.60 EPS. Regions Financial's quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio is presently 43.27%.

Analysts Set New Price Targets

Several brokerages have commented on RF. DA Davidson boosted their price target on shares of Regions Financial from $33.00 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $34.00 target price on shares of Regions Financial in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price target on Regions Financial from $31.50 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Cantor Fitzgerald raised their price target on Regions Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Finally, Truist Financial boosted their price target on Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Six investment 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $32.24.

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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