EP Wealth Advisors LLC Takes Position in Regions Financial Corporation $RF

EP Wealth Advisors LLC purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 112,611 shares of the bank's stock, valued at approximately $3,401,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC increased its holdings in Regions Financial by 3.9% during the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank's stock worth $248,000 after purchasing an additional 346 shares during the period. WPG Advisers LLC lifted its holdings in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock worth $25,000 after buying an additional 370 shares during the period. Master S Wealth Management Inc. lifted its holdings in shares of Regions Financial by 1.0% in the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank's stock worth $1,009,000 after buying an additional 372 shares during the period. Van ECK Associates Corp grew its position in shares of Regions Financial by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 33,604 shares of the bank's stock worth $911,000 after buying an additional 373 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID grew its position in shares of Regions Financial by 17.3% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank's stock worth $68,000 after buying an additional 381 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Trading Up 0.6%

Shares of NYSE RF opened at $30.40 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $25.90 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The business has a fifty day moving average price of $30.66 and a 200 day moving average price of $28.80.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping 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 company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current fiscal 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 paid a $0.30 dividend. This is a positive change from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. Regions Financial's dividend payout ratio is 43.27%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RF. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price objective on shares of Regions Financial in a report on Friday, July 17th. Citigroup increased their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Keefe, Bruyette & Woods raised their target price on shares of Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Monday, July 20th. Robert W. Baird restated an "underperform" rating and issued a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. Finally, Truist Financial upped their price target on shares of Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $32.24.

Regions Financial Company 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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