Wealth Enhancement Advisory Services LLC boosted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,969 shares of the bank's stock after buying an additional 14,720 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Regions Financial were worth $5,301,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in RF. Picton Mahoney Asset Management raised its holdings in Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC bought a new position in Regions Financial during the 4th quarter worth approximately $32,000. TD Waterhouse Canada Inc. raised its holdings in Regions Financial by 181.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after purchasing an additional 2,078 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in Regions Financial by 18.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,641 shares of the bank's stock worth $79,000 after purchasing an additional 571 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in Regions Financial by 20.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,316 shares of the bank's stock worth $86,000 after purchasing an additional 567 shares during the last quarter. Institutional investors own 79.39% of the company's stock.
Regions Financial Stock Up 0.2%
RF stock traded up $0.05 during midday trading on Friday, reaching $23.40. 10,748,886 shares of the company's stock traded hands, compared to its average volume of 8,355,305. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 1.85 and a beta of 0.96. The firm's fifty day moving average price is $21.56 and its 200-day moving average price is $22.34. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.
Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same period in the previous year, the firm earned $0.37 EPS. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.
Regions Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio is 48.08%.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. TD Cowen initiated coverage on shares of Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Finally, Stephens reiterated an "overweight" rating and issued a $24.00 price objective on shares of Regions Financial in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.80.
Read Our Latest Research Report on Regions Financial
Regions Financial Company Profile
(
Free Report)
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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