Envestnet Portfolio Solutions Inc. Has $14.49 Million Stock Position in Regions Financial Corporation $RF

Envestnet Portfolio Solutions Inc. lifted its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 616,151 shares of the bank's stock after purchasing an additional 81,070 shares during the quarter. Envestnet Portfolio Solutions Inc. owned approximately 0.07% of Regions Financial worth $14,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in Regions Financial by 37.5% during the second quarter. Sequoia Financial Advisors LLC now owns 32,377 shares of the bank's stock worth $762,000 after buying an additional 8,833 shares in the last quarter. Welch Group LLC lifted its holdings in shares of Regions Financial by 1.8% during the 2nd quarter. Welch Group LLC now owns 137,556 shares of the bank's stock worth $3,235,000 after acquiring an additional 2,396 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Regions Financial by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank's stock valued at $216,866,000 after acquiring an additional 325,382 shares in the last quarter. CWM LLC increased its stake in Regions Financial by 12.7% in the second quarter. CWM LLC now owns 43,760 shares of the bank's stock valued at $1,029,000 after acquiring an additional 4,945 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in Regions Financial in the second quarter valued at about $313,000. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RF shares. Cantor Fitzgerald assumed coverage on Regions Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $30.00 price objective on the stock. DA Davidson boosted their price target on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Stephens increased their price objective on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Evercore ISI lifted their price objective on Regions Financial from $28.00 to $29.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $27.89.

Regions Financial Price Performance

Shares of RF stock opened at $24.58 on Tuesday. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The stock has a market capitalization of $21.93 billion, a PE ratio of 11.43, a PEG ratio of 1.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The stock's fifty day moving average is $26.28 and its 200-day moving average is $23.63.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm had revenue of $1.81 billion for the quarter. Equities research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio (DPR) is presently 49.30%.

Insider Buying and Selling at Regions Financial

In related news, Director Roger W. Jenkins purchased 4,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director directly owned 6,383 shares in the company, valued at $162,638.84. This trade represents a 167.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president owned 90,915 shares in the company, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Regions Financial 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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