Fulton Bank N.A. Takes $1.81 Million Position in Regions Financial Corporation $RF

Key Points

• Fulton Bank acquired 59,789 shares of Regions Financial worth approximately $1.81 million in the second quarter, while institutional investors collectively own 79.39% of the stock.
• Analysts maintain a consensus “Hold” rating on Regions Financial, with an average price target of $32.24; views range from “underweight” to “outperform.”
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 in EPS and $1.95 billion in revenue, and increased its quarterly dividend to $0.30, yielding approximately 3.8%.

Fulton Bank N.A. bought a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 59,789 shares of the bank's stock, valued at approximately $1,806,000.

Other large investors also recently modified their holdings of the company. First Bank & Trust bought a new position in Regions Financial during the 2nd quarter valued at approximately $391,000. Allied Private Wealth LLC purchased a new stake in Regions Financial in the 2nd quarter worth approximately $37,000. Everpar Advisors LLC grew its position in shares of Regions Financial by 5.3% in the 2nd quarter. Everpar Advisors LLC now owns 9,038 shares of the bank's stock worth $273,000 after buying an additional 451 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Regions Financial by 42.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 36,848 shares of the bank's stock worth $1,113,000 after buying an additional 10,915 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Regions Financial by 3.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 15,844 shares of the bank's stock worth $478,000 after buying an additional 598 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on RF shares. Morgan Stanley upped their target price on Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Stephens started coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price target on the stock. Jefferies Financial Group reissued a "hold" rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Wells Fargo & Company upped their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $34.00 target price on shares of Regions Financial in a research report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of "Hold" and an average target price of $32.24.

Regions Financial Trading Up 0.4%

Shares of NYSE RF opened at $31.59 on Wednesday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. 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 firm has a 50-day moving average of $30.23 and a 200 day moving average of $28.62. The stock has a market cap of $26.91 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business's revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 1st. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio (DPR) is currently 43.27%.

About Regions Financial

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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