Empowered Funds LLC Invests $2.26 Million in Regions Financial Corporation $RF

Key Points

• Empowered Funds LLC acquired 74,778 shares of Regions Financial worth approximately $2.26 million during the second quarter. Several other institutional investors also initiated positions, with institutions collectively owning 79.39% of the stock.
• Regions Financial reported quarterly earnings of $0.68 per share, beating estimates of $0.63, while revenue reached $1.95 billion. Analysts expect full-year EPS of approximately $2.63.
• The bank raised its quarterly dividend from $0.27 to $0.30 per share, equating to an annualized dividend of $1.20 and a 4.0% yield; analysts maintain a consensus “Hold” rating with a $32.24 price target.

Empowered Funds LLC acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 74,778 shares of the bank's stock, valued at approximately $2,258,000.

A number of other large investors have also added to or reduced their stakes in RF. United Capital Financial Advisors LLC acquired a new position in Regions Financial in the 2nd quarter valued at approximately $2,180,000. Brooks Moore & Associates Inc. bought a new position in shares of Regions Financial during the second quarter valued at $456,000. Equitable Holdings Inc. acquired a new position in shares of Regions Financial during the second quarter worth $676,000. Centaurus Financial Inc. acquired a new position in shares of Regions Financial during the second quarter worth $294,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Regions Financial in the second quarter worth $2,800,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

RF stock opened at $29.95 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market cap of $25.52 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.20 and a beta of 0.99. The company's fifty day simple moving average is $30.88 and its 200 day simple moving average is $28.78. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47.

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

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is an increase from Regions Financial's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. Regions Financial's dividend payout ratio is presently 48.98%.

Wall Street Analyst Weigh In

RF has been the subject of a number of recent research reports. Evercore restated an "underperform" rating and issued a $31.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Regions Financial in a research report on Friday, July 17th. Citigroup increased their price target on Regions Financial from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Jefferies Financial Group restated a "hold" rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $32.00 to $33.00 and gave the stock a "market perform" rating in a research note on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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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