Corient Private Wealth LP Purchases New Holdings in Regions Financial Corporation $RF

Key Points

• Corient Private Wealth purchased 137,983 shares of Regions Financial in the second quarter, valued at approximately $4.17 million. Institutional investors now own 79.39% of the company’s stock.
• Regions Financial reported quarterly EPS of $0.68, exceeding analysts’ $0.63 estimate, while revenue reached $1.95 billion. Shares opened at $29.91, down 1.4%, with a consensus analyst rating of “Hold” and an average price target of $32.24.
• The bank increased its quarterly dividend from $0.27 to $0.30 per share, equivalent to a $1.20 annualized dividend and a 4.0% yield.

Corient Private Wealth LP bought a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 137,983 shares of the bank's stock, valued at approximately $4,167,000.

Other institutional investors have also added to or reduced their stakes in the company. Palogic Value Management L.P. bought a new stake in shares of Regions Financial in the second quarter valued at about $453,000. Ausdal Financial Partners Inc. acquired a new position in shares of Regions Financial during the 2nd quarter worth approximately $291,000. Bank of America Corp DE bought a new position in shares of Regions Financial during the second quarter worth approximately $219,068,000. Magnolia Capital Advisors LLC bought a new stake in shares of Regions Financial in the second quarter valued at approximately $2,745,000. Finally, Freestone Grove Partners LP acquired a new stake in Regions Financial during the second quarter worth approximately $12,209,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Down 1.4%

Shares of NYSE RF opened at $29.91 on Tuesday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year 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. The firm has a market cap of $25.48 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The company has a 50 day simple moving average of $30.87 and a 200 day simple moving average of $28.79.

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

Regions Financial Increases Dividend

The company also recently declared 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 is an increase from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial's dividend payout ratio is presently 43.27%.

Analyst Upgrades and Downgrades

RF has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised their price target on Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Evercore reiterated an "underperform" rating and set a $31.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. Robert W. Baird reissued an "underperform" rating and set a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. Finally, Truist Financial lifted their target price on Regions Financial from $30.00 to $34.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $32.24.

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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