Envestnet Asset Management Inc. Has $9.94 Million Holdings in Regions Financial Corporation (NYSE:RF)

Envestnet Asset Management Inc. raised its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 11.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 457,409 shares of the bank's stock after acquiring an additional 46,265 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of Regions Financial worth $9,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its position in Regions Financial by 8.7% in the 1st quarter. First Horizon Advisors Inc. now owns 6,641 shares of the bank's stock valued at $144,000 after acquiring an additional 532 shares in the last quarter. Lido Advisors LLC increased its position in Regions Financial by 2.6% in the 4th quarter. Lido Advisors LLC now owns 22,291 shares of the bank's stock valued at $530,000 after acquiring an additional 558 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in Regions Financial by 18.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 3,641 shares of the bank's stock valued at $79,000 after acquiring an additional 571 shares in the last quarter. Dean Capital Management increased its position in Regions Financial by 0.8% in the 4th quarter. Dean Capital Management now owns 73,151 shares of the bank's stock valued at $1,721,000 after acquiring an additional 593 shares in the last quarter. Finally, Prosperity Consulting Group LLC increased its position in Regions Financial by 2.2% in the 4th quarter. Prosperity Consulting Group LLC now owns 32,541 shares of the bank's stock valued at $765,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Up 6.1%

Regions Financial stock opened at $26.00 on Monday. The company's 50 day simple moving average is $22.78 and its 200 day simple moving average is $22.41. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $0.52 EPS. Regions Financial's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.08%. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's payout ratio is presently 46.51%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Cowen assumed coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. JPMorgan Chase & Co. reduced their target price on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Stephens reaffirmed an "overweight" rating and issued a $24.00 target price on shares of Regions Financial in a research note on Tuesday, June 3rd. Finally, TD Cowen started coverage on shares of Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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