Envestnet Portfolio Solutions Inc. Increases Stake in Regions Financial Corporation (NYSE:RF)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 535,081 shares of the bank's stock after buying an additional 16,298 shares during the period. Envestnet Portfolio Solutions Inc. owned about 0.06% of Regions Financial worth $11,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Norges Bank acquired a new position in Regions Financial during the 4th quarter worth approximately $279,103,000. Invesco Ltd. grew its holdings in Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after acquiring an additional 1,963,954 shares in the last quarter. Deutsche Bank AG grew its holdings in Regions Financial by 52.7% during the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after acquiring an additional 1,907,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock worth $686,398,000 after acquiring an additional 1,396,647 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Regions Financial during the 4th quarter worth approximately $31,480,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

NYSE:RF opened at $21.95 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The stock has a market cap of $19.73 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. The firm's fifty day simple moving average is $21.12 and its 200-day simple moving average is $22.51.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the prior year, the company posted $0.37 EPS. Analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RF. Stephens restated an "overweight" rating and issued a $24.00 target price on shares of Regions Financial in a report on Tuesday, June 3rd. Citigroup lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 24th. Barclays lowered their target price on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Jefferies Financial Group began coverage on shares of Regions Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price for the company. Finally, Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a report on Sunday, June 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.80.

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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