Empowered Funds LLC lifted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 160.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,570 shares of the bank's stock after acquiring an additional 41,024 shares during the quarter. Empowered Funds LLC's holdings in Regions Financial were worth $1,739,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter valued at $25,000. SouthState Bank Corp raised its stake in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock valued at $30,000 after buying an additional 538 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Regions Financial in the 4th quarter valued at about $33,000. DV Equities LLC purchased a new stake in shares of Regions Financial in the fourth quarter worth about $33,000. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Regions Financial by 69.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 1,486 shares of the bank's stock worth $40,000 after buying an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.
Analysts Set New Price Targets
RF has been the subject of several recent research reports. Robert W. Baird reiterated an "underperform" rating and set a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their price objective on Regions Financial from $32.00 to $33.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. UBS Group boosted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $32.00 price target on shares of Regions Financial in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Regions Financial has a consensus rating of "Hold" and a consensus target price of $32.24.
Read Our Latest Stock Report on Regions Financial
Regions Financial Stock Down 1.5%
Shares of RF opened at $31.39 on Friday. The firm has a market cap of $26.79 billion, a P/E ratio of 12.81, a PEG ratio of 1.22 and a beta of 1.00. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. The stock's 50 day moving average is $30.01 and its two-hundred day moving average is $28.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.
Regions Financial (NYSE:RF - Get Free Report) last announced 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 return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.60 EPS. The business's revenue was up .1% on a year-over-year basis. Analysts predict that Regions Financial Corporation will post 2.63 earnings per share 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 given a dividend of $0.30 per share. This is a boost from Regions Financial's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 1st. Regions Financial's dividend payout ratio (DPR) is currently 48.98%.
Regions Financial Company Profile
(
Free Report)
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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