Commonwealth Retirement Investments LLC Has $3.36 Million Stock Position in Regions Financial Corporation $RF

Key Points

• Commonwealth Retirement Investments LLC increased its Regions Financial stake by 84.8% in the second quarter, bringing its holdings to 111,131 shares valued at approximately $3.36 million. Institutional investors and hedge funds collectively own 79.39% of the stock.
• Analysts maintain a broadly neutral view, with six Buy, ten Hold, and four Sell ratings. Regions Financial has an average rating of “Hold” and an average price target of $32.24.
• 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 raised its quarterly dividend to $0.30 per share, representing a 3.8% annualized yield.

Commonwealth Retirement Investments LLC grew its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 84.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,131 shares of the bank's stock after purchasing an additional 50,992 shares during the period. Commonwealth Retirement Investments LLC's holdings in Regions Financial were worth $3,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank's stock worth $862,792,000 after buying an additional 215,061 shares during the period. Victory Capital Management Inc. grew its position in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock valued at $618,860,000 after acquiring an additional 9,312,449 shares during the period. Invesco Ltd. grew its position in Regions Financial by 3.1% in the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank's stock valued at $524,337,000 after acquiring an additional 573,659 shares during the period. Morgan Stanley raised its stake in Regions Financial by 1.3% during the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank's stock worth $497,459,000 after acquiring an additional 231,924 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Regions Financial by 75.7% during the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock worth $348,936,000 after acquiring an additional 5,754,487 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Monday, July 20th. Truist Financial upped their target price on shares of Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Robert W. Baird reiterated an "underperform" rating and set a $28.00 target price on shares of Regions Financial in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on shares of Regions Financial from $31.50 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a research report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Regions Financial presently has an average rating of "Hold" and an average price target of $32.24.

Regions Financial Price Performance

Shares of RF stock opened at $31.91 on Friday. The stock's fifty day moving average is $30.44 and its 200-day moving average is $28.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $27.18 billion, a PE ratio of 13.02, a PEG ratio of 1.21 and a beta of 1.00. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $0.60 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

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

Regions Financial Company 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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