Global Retirement Partners LLC Invests $1.39 Million in Regions Financial Corporation $RF

Key Points

• Global Retirement Partners acquired 45,919 shares of Regions Financial valued at approximately $1.39 million, while institutional investors and hedge funds collectively own 79.39% of the bank’s stock.
• Regions Financial beat quarterly expectations with earnings of $0.68 per share versus the $0.63 consensus estimate, while revenue reached $1.95 billion and net margin stood at 23.33%.
• The bank raised its quarterly dividend from $0.27 to $0.30 per share, implying an annualized dividend of $1.20 and a 3.8% yield. Analysts maintain a consensus “Hold” rating with a $32.24 target price.

Global Retirement Partners LLC acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 45,919 shares of the bank's stock, valued at approximately $1,387,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Regions Financial in the 4th quarter worth about $254,564,000. Victory Capital Management Inc. increased its holdings in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock valued at $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. First Trust Advisors LP raised its position in Regions Financial by 75.7% during the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock worth $348,936,000 after acquiring an additional 5,754,487 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Regions Financial by 286.2% during the third quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock worth $106,061,000 after acquiring an additional 2,980,505 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank's stock worth $103,886,000 after purchasing an additional 2,371,048 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Performance

NYSE RF opened at $31.71 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $27.01 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00. The business's 50-day moving average price is $30.50 and its 200 day moving average price is $28.73. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47.

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 the consensus estimate 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 analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company's revenue was up .1% on a year-over-year basis. On average, research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird reissued an "underperform" rating and issued a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. Truist Financial increased their price objective on Regions Financial from $30.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. boosted their target price on shares of Regions Financial from $31.50 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. DA Davidson upped their target price on shares of Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald raised their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Regions Financial presently has an average rating of "Hold" and a consensus target price 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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