Magnolia Capital Advisors LLC Invests $2.75 Million in Regions Financial Corporation $RF

Key Points

• Magnolia Capital Advisors initiated a $2.75 million position in Regions Financial, purchasing 90,894 shares during the second quarter. Institutional investors collectively own 79.39% of the company.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 in EPS versus the $0.63 consensus estimate and $1.95 billion in revenue. Analysts maintain an average “Hold” rating with a $32.24 price target.
• The bank raised its quarterly dividend from $0.27 to $0.30 per share, equivalent to an annualized $1.20 dividend and a 3.9% yield.

Magnolia Capital Advisors LLC bought a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 90,894 shares of the bank's stock, valued at approximately $2,745,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WPG Advisers LLC increased its holdings in Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after purchasing an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Regions Financial during the second quarter worth about $25,000. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial during the second quarter worth about $25,000. Trust Co. of Vermont acquired a new position in shares of Regions Financial during the second quarter worth about $26,000. Finally, SouthState Bank Corp boosted its position in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after buying an additional 538 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial increased their target price on Regions Financial from $30.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Cantor Fitzgerald boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their price target on Regions Financial from $31.50 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. UBS Group lifted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $32.24.

Regions Financial Stock Up 0.4%

Shares of Regions Financial stock opened at $30.74 on Thursday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The company has a market capitalization of $26.19 billion, a PE ratio of 12.55, a P/E/G ratio of 1.17 and a beta of 1.00. 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 business has a 50-day moving average of $30.77 and a 200-day moving average of $28.81.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, equities analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

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