Concurrent Investment Advisors LLC Grows Position in Regions Financial Corporation (NYSE:RF)

Concurrent Investment Advisors LLC grew its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 372.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,412 shares of the bank's stock after acquiring an additional 109,884 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Regions Financial were worth $3,029,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RF. Norges Bank bought a new position in Regions Financial in the fourth quarter valued at about $279,103,000. Invesco Ltd. increased its position in shares of Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock valued at $363,823,000 after purchasing an additional 1,963,954 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Regions Financial by 52.7% in the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after purchasing an additional 1,907,121 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Regions Financial in the fourth quarter worth approximately $31,480,000. Finally, Northern Trust Corp grew its position in Regions Financial by 14.8% during the fourth quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock valued at $227,176,000 after buying an additional 1,247,882 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

Shares of RF traded down $0.23 during mid-day trading on Monday, hitting $24.57. 7,645,843 shares of the stock were exchanged, compared to its average volume of 8,365,328. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $22.09 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The firm has a 50-day moving average of $22.00 and a two-hundred day moving average of $22.35.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. On average, equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, May 2nd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.07%. Regions Financial's payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RF shares. Jefferies Financial Group assumed coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Keefe, Bruyette & Woods lowered their target price on Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Citigroup boosted their price target on Regions Financial from $26.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Stephens restated an "overweight" rating and issued a $24.00 price target on shares of Regions Financial in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.15.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.