Johnson Financial Group Inc. Makes New Investment in Regions Financial Corporation $RF

Key Points

• Johnson Financial Group purchased 62,134 shares of Regions Financial in the second quarter, valued at approximately $1.893 million. Institutional investors and hedge funds collectively own 79.39% of the company.
• Analyst sentiment remains mixed, with six Buy, ten Hold, and four Sell ratings; the consensus rating is Hold with an average price target of $32.24.
• Regions Financial reported quarterly EPS of $0.68, beating estimates of $0.63, and increased its quarterly dividend from $0.27 to $0.30 per share, representing an annualized yield of about 3.9%.

Johnson Financial Group Inc. bought a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 62,134 shares of the bank's stock, valued at approximately $1,893,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank's stock valued at $416,000 after buying an additional 1,278 shares in the last quarter. Woodline Partners LP lifted its stake in Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank's stock valued at $1,669,000 after acquiring an additional 22,216 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Regions Financial by 0.7% during the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank's stock worth $1,687,000 after purchasing an additional 511 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank's stock worth $275,000 after buying an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Regions Financial by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank's stock valued at $3,320,000 after purchasing an additional 6,690 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RF. Evercore restated an "underperform" rating and set a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their price target on shares of Regions Financial from $31.50 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of Regions Financial in a research report on Friday, July 17th. Citigroup upped their target price on Regions Financial from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, Keefe, Bruyette & Woods raised their price target on Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Monday, July 20th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $32.24.

Regions Financial Trading Down 3.4%

Shares of RF stock opened at $30.61 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $30.61 and a two-hundred day moving average price of $28.78. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. The firm has a market cap of $26.08 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.21 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 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. Equities analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. This is an increase from Regions Financial's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. Regions Financial's dividend payout ratio (DPR) is 43.27%.

Regions Financial 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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source