Regions Financial Corporation $RF Shares Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its Regions Financial stake by 12.3% in the second quarter, purchasing 80,181 additional shares and bringing its holdings to 733,501 shares. Institutional investors collectively own 79.39% of the bank.
• Analysts maintain an overall “Hold” rating on Regions Financial, with an average price target of $32.12. Recent targets range from $28 to $36, while the stock recently traded at $27.38.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 in EPS versus the $0.63 consensus estimate, and raised its quarterly dividend to $0.30 per share, representing a 4.4% annualized yield.

Envestnet Portfolio Solutions Inc. increased its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 12.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 733,501 shares of the bank's stock after purchasing an additional 80,181 shares during the period. Envestnet Portfolio Solutions Inc. owned approximately 0.09% of Regions Financial worth $22,152,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Regions Financial by 6.2% during the 2nd quarter. State Street Corp now owns 50,667,092 shares of the bank's stock worth $1,543,092,000 after purchasing an additional 2,953,594 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock valued at $618,860,000 after buying an additional 9,312,449 shares during the period. First Trust Advisors LP boosted its stake in shares of Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock valued at $348,936,000 after buying an additional 5,754,487 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Regions Financial by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 9,827,358 shares of the bank's stock worth $256,633,000 after acquiring an additional 140,398 shares during the period. Finally, Norges Bank acquired a new stake in Regions Financial in the fourth quarter valued at $254,564,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RF. Robert W. Baird raised shares of Regions Financial from an "underperform" rating to a "neutral" rating and set a $28.00 price target on the stock in a research note on Friday, September 18th. Citigroup raised their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Royal Bank Of Canada reissued an "outperform" rating and set a $34.00 price objective on shares of Regions Financial in a report on Monday, July 20th. Wells Fargo & Company upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a research report on Monday, July 6th. Finally, Evercore reaffirmed an "underperform" rating and issued a $31.00 target price 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 assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Regions Financial presently has an average rating of "Hold" and an average target price of $32.12.

Regions Financial Price Performance

RF traded down $0.54 during trading on Wednesday, reaching $27.38. 9,337,829 shares of the stock were exchanged, compared to its average volume of 11,608,185. 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 company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.17 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. The business's 50 day moving average price is $30.61 and its two-hundred day moving average price is $28.83.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion during 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 business's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently announced 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. This is an increase from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 4.4%. Regions Financial's payout ratio is 48.98%.

Regions Financial Profile

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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