Regions Financial Corporation $RF Shares Sold by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services cut its Regions Financial stake by 88.9% in the second quarter, selling 33,938 shares and retaining 4,228 shares valued at approximately $128,000. Institutional investors collectively own 79.39% of the bank’s stock.
• Analysts maintain a consensus “Hold” rating on Regions Financial, with an average price target of $32.29. Recent targets range from $30 to $35, while the stock opened at $29.69.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 EPS versus the $0.63 consensus and $1.95 billion in revenue. The company also raised its quarterly dividend to $0.30 per share, implying a 4.0% annualized yield.

Ameritas Advisory Services LLC reduced its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 88.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,228 shares of the bank's stock after selling 33,938 shares during the period. Ameritas Advisory Services LLC's holdings in Regions Financial were worth $128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RF. WPG Advisers LLC raised its position 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 acquiring an additional 370 shares during the period. Keating Financial Advisory Services Inc. purchased a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $26,000. SouthState Bank Corp increased its holdings in shares of 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 buying an additional 538 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new position in Regions Financial in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RF. JPMorgan Chase & Co. boosted their price objective on shares of Regions Financial from $31.50 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Wells Fargo & Company lifted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a research report on Monday, July 6th. Evercore reissued an "underperform" rating and issued a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Finally, Cantor Fitzgerald upped their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of "Hold" and a consensus price target of $32.29.

Regions Financial Stock Performance

NYSE:RF opened at $29.69 on Wednesday. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. 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 firm has a market capitalization of $25.29 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. The business's fifty day moving average price is $30.84 and its 200 day moving average price is $28.82.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. The company 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%.Regions Financial's revenue for the quarter 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, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. 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 payout ratio is 48.98%.

Regions Financial Company 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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