Merit Financial Group LLC lifted its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 118.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,487 shares of the bank's stock after purchasing an additional 13,301 shares during the quarter. Merit Financial Group LLC's holdings in Regions Financial were worth $532,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Regions Financial during the fourth quarter worth $279,103,000. Invesco Ltd. raised its position in shares of Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Regions Financial by 52.7% during the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock valued at $129,892,000 after acquiring an additional 1,907,121 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Regions Financial during the 4th quarter worth $31,480,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
RF has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. TD Cowen began coverage on shares of Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective for the company. Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of Regions Financial in a research note on Tuesday, June 3rd. Cowen started coverage on Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, Jefferies Financial Group started coverage on Regions Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $25.80.
View Our Latest Stock Analysis on Regions Financial
Regions Financial Stock Up 1.2%
Regions Financial stock traded up $0.28 during mid-day trading on Tuesday, reaching $22.37. 10,581,422 shares of the company's stock were exchanged, compared to its average volume of 8,686,879. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The company has a market cap of $20.10 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.93 and a beta of 0.96. The company has a fifty day moving average of $20.66 and a 200-day moving average of $22.74.
Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $0.37 earnings per share. Sell-side analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.
Regions Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.
Regions Financial Company Profile
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Free Report)
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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