Wealthfront Advisers LLC Buys 82,096 Shares of Regions Financial Corporation (NYSE:RF)

Wealthfront Advisers LLC lifted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 22.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,222 shares of the bank's stock after buying an additional 82,096 shares during the quarter. Wealthfront Advisers LLC's holdings in Regions Financial were worth $9,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RF. Proficio Capital Partners LLC purchased a new stake in shares of Regions Financial in the 4th quarter worth about $2,393,000. HighTower Advisors LLC grew its position in shares of Regions Financial by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 213,977 shares of the bank's stock worth $5,033,000 after buying an additional 6,723 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Regions Financial by 20.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 24,500 shares of the bank's stock worth $576,000 after buying an additional 4,233 shares during the period. Farther Finance Advisors LLC boosted its stake in Regions Financial by 40.6% in the 4th quarter. Farther Finance Advisors LLC now owns 4,857 shares of the bank's stock worth $114,000 after purchasing an additional 1,402 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Regions Financial by 10.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 65,469 shares of the bank's stock worth $1,540,000 after purchasing an additional 5,932 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of NYSE:RF traded up $1.27 during trading on Friday, hitting $25.78. The company's stock had a trading volume of 9,924,462 shares, compared to its average volume of 8,384,937. The company has a 50-day moving average of $22.68 and a 200-day moving average of $22.41. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.80 and a beta of 0.98. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.11%. Regions Financial's dividend payout ratio is currently 48.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RF. Citigroup upped their price target on shares of Regions Financial from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley upped their price target on shares of Regions Financial from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial restated a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.15.

Regions Financial Profile

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.