Regions Financial Corporation (NYSE:RF) Stock Holdings Raised by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Regions Financial Corporation by 24.9%, owning a total of 365,190 shares valued at approximately $7.9 million as of its latest SEC filing.
• Regions Financial recently declared a quarterly dividend of $0.265 per share, representing an annualized dividend yield of 4.2%, an increase from the previous dividend of $0.25.
• The bank reported earnings of $0.60 per share in its last quarter, beating analyst expectations, with revenue increasing by 10.1% year-over-year to $1.91 billion.

Cetera Investment Advisers grew its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 24.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 365,190 shares of the bank's stock after purchasing an additional 72,811 shares during the quarter. Cetera Investment Advisers' holdings in Regions Financial were worth $7,936,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Rossby Financial LCC bought a new stake in Regions Financial during the first quarter valued at $36,000. Grove Bank & Trust boosted its holdings in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after buying an additional 814 shares during the period. Allworth Financial LP grew its position in shares of Regions Financial by 30.7% during the 1st quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock valued at $69,000 after buying an additional 786 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in Regions Financial by 181.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after acquiring an additional 2,078 shares during the period. Finally, Proathlete Wealth Management LLC acquired a new stake in Regions Financial during the first quarter worth about $77,000. Institutional investors own 79.39% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on RF. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. TD Cowen assumed coverage on Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price on the stock. Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Barclays restated an "underweight" rating and set a $27.00 price target (up previously from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Finally, DA Davidson raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Regions Financial Trading Down 1.6%

Shares of RF stock opened at $25.29 on Friday. The stock has a 50-day simple moving average of $23.48 and a 200 day simple moving average of $22.58. The stock has a market capitalization of $22.74 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.48 and a beta of 0.98. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 4.2%. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is presently 46.51%.

Regions Financial Profile

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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