OMERS ADMINISTRATION Corp Makes New $4.58 Million Investment in Regions Financial Corporation $RF

Key Points

• OMERS Administration Corp purchased 151,504 shares of Regions Financial valued at approximately $4.58 million during the second quarter. Institutional investors and hedge funds collectively own 79.39% of the company.
• Regions Financial reported quarterly EPS of $0.68, exceeding the $0.63 consensus estimate, while revenue reached $1.95 billion. The bank also raised its quarterly dividend to $0.30 per share, implying a 3.9% annualized yield.
• Analysts maintain a consensus “Hold” rating, with an average price target of $32.24 versus the stock’s reported price of $30.62.

OMERS ADMINISTRATION Corp purchased a new position in Regions Financial Corporation (NYSE:RF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 151,504 shares of the bank's stock, valued at approximately $4,575,000.

A number of other large investors have also recently bought and sold shares of RF. 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 buying an additional 370 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in shares of Regions Financial during the 2nd quarter worth approximately $25,000. Darwin Wealth Management LLC bought a new stake in shares of Regions Financial during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont acquired a new stake in shares of Regions Financial during the 2nd quarter worth approximately $26,000. Finally, SouthState Bank Corp increased its stake in Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock valued at $30,000 after acquiring an additional 538 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Up 0.7%

Shares of Regions Financial stock opened at $30.62 on Tuesday. The firm has a market capitalization of $26.09 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. 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 firm's 50 day moving average is $30.70 and its 200 day moving average is $28.80. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47.

Regions Financial (NYSE:RF - Get Free Report) last issued 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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm's revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities research analysts forecast that Regions Financial Corporation will post 2.63 earnings per share 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. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is a boost from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial's dividend payout ratio (DPR) is currently 48.98%.

Wall Street Analyst Weigh In

Several brokerages have commented on RF. Jefferies Financial Group restated a "hold" rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. DA Davidson lifted their price target on Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Cantor Fitzgerald boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Finally, Morgan Stanley boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $32.24.

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.

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