Regions Financial Corporation $RF Shares Purchased by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its Regions Financial stake by 16.7% in the second quarter, owning 592,102 shares worth approximately $17.9 million. Institutional investors and hedge funds collectively own 79.39% of the stock.
• Regions Financial reported quarterly EPS of $0.68, exceeding estimates of $0.63, while revenue reached $1.95 billion. The bank also raised its quarterly dividend from $0.27 to $0.30, implying a 4.0% annualized yield.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $32.24, modestly above the stock’s $30.35 opening price.

Benjamin Edwards Inc. boosted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 16.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 592,102 shares of the bank's stock after buying an additional 84,948 shares during the period. Benjamin Edwards Inc. owned approximately 0.07% of Regions Financial worth $17,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. WPG Advisers LLC grew its stake in Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank's stock worth $25,000 after buying an additional 370 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in shares of Regions Financial in the 2nd quarter valued at $25,000. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial during the 2nd quarter valued at $25,000. Trust Co. of Vermont purchased a new stake in Regions Financial during the 2nd quarter worth $26,000. Finally, SouthState Bank Corp boosted its position in Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after purchasing an additional 538 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Down 0.2%

Shares of NYSE RF opened at $30.35 on Friday. The stock has a market capitalization of $25.86 billion, a P/E ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00. The stock's 50 day moving average price is $30.84 and its two-hundred day moving average price is $28.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47.

Regions Financial (NYSE:RF - Get Free Report) last issued 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 the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business's quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. On average, analysts anticipate that Regions Financial Corporation will post 2.63 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 Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. Regions Financial's dividend payout ratio (DPR) is presently 43.27%.

Analysts Set New Price Targets

RF has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their target price on Regions Financial from $31.50 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a "hold" rating and set a $32.00 target price on shares of Regions Financial in a report on Friday, July 17th. Truist Financial upped their price target on Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald upped 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. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $32.24.

Regions Financial Company 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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