Cibc World Market Inc. Purchases Shares of 90,123 Regions Financial Corporation $RF

Key Points

• CIBC World Markets purchased 90,123 shares of Regions Financial during the second quarter, valued at approximately $2.7 million. Institutional investors and hedge funds own 79.39% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $32.24. Recent analysts raised targets as high as $36 and issued buy or outperform ratings.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 in EPS versus the $0.63 consensus and $1.95 billion in revenue. The bank also increased its quarterly dividend to $0.30 per share, implying a 3.9% yield.

Cibc World Market Inc. purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 90,123 shares of the bank's stock, valued at approximately $2,722,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new position in shares of Regions Financial during the second quarter worth about $4,575,000. Osmosis Investment Management UK Ltd acquired a new stake in Regions Financial in the 2nd quarter valued at approximately $841,000. Sanctuary Advisors LLC bought a new stake in Regions Financial in the 2nd quarter valued at approximately $11,641,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Regions Financial in the 2nd quarter valued at approximately $7,104,000. Finally, Capital Square LLC acquired a new position in Regions Financial during the 2nd quarter worth approximately $304,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RF has been the subject of several research reports. Cantor Fitzgerald raised 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 boosted their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Citigroup raised their target price on shares of Regions Financial from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. boosted 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 analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $32.24.

Regions Financial Price Performance

NYSE:RF opened at $30.74 on Thursday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. 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 firm has a fifty day simple moving average of $30.77 and a 200 day simple moving average of $28.81. The stock has a market capitalization of $26.19 billion, a PE ratio of 12.55, a P/E/G ratio of 1.17 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company's quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts expect 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 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 a boost from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio (DPR) is presently 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.

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