Regions Financial Corporation $RF Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Regions Financial stake by 433.7% in the second quarter, acquiring 1.73 million additional shares and bringing its holdings to 2.13 million shares valued at approximately $64.3 million.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and an average price target of $32.12. Regions Financial recently beat quarterly earnings expectations, reporting $0.68 in EPS versus the $0.63 estimate.
• Regions Financial raised its quarterly dividend to $0.30 per share, equivalent to $1.20 annually and a 4.3% yield.

Envestnet Asset Management Inc. grew its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 433.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,129,927 shares of the bank's stock after buying an additional 1,730,874 shares during the period. Envestnet Asset Management Inc. owned 0.25% of Regions Financial worth $64,324,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in Regions Financial by 8.5% during the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank's stock valued at $63,645,000 after purchasing an additional 165,527 shares during the period. Bank of America Corp DE acquired a new stake in Regions Financial during the 2nd quarter worth about $219,068,000. Waterloo Capital L.P. raised its stake in shares of Regions Financial by 123.7% during the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank's stock valued at $3,683,000 after buying an additional 75,149 shares during the last quarter. Raiffeisen Bank International AG raised its stake in shares of Regions Financial by 7,509.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 48,623 shares of the bank's stock valued at $1,472,000 after buying an additional 47,984 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Regions Financial in the 2nd quarter valued at about $3,886,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, July 6th. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. Keefe, Bruyette & Woods upped their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a research note on Monday, July 20th. Stephens initiated coverage on Regions Financial in a report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 target price for the company. Finally, Evercore restated an "underperform" rating and set a $31.00 price target on shares of Regions Financial in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $32.12.

Regions Financial Stock Performance

Shares of RF opened at $27.62 on Friday. The stock has a 50-day simple moving average of $30.35 and a 200-day simple moving average of $28.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $23.53 billion, a PE ratio of 11.28, a PEG ratio of 1.13 and a beta of 0.99. 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 announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company's quarterly revenue was up .1% compared to the same quarter last year. On average, analysts predict that Regions Financial Corporation will post 2.63 earnings per share 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. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 1st. This is an increase from Regions Financial's previous quarterly dividend of $0.2650. Regions Financial's dividend payout ratio (DPR) is currently 48.98%.

About Regions Financial

Regions Financial Corporation NYSE: RF is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.

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