Csenge Advisory Group Invests $3.78 Million in Regions Financial Corporation $RF

Csenge Advisory Group acquired a new position in Regions Financial Corporation (NYSE:RF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 125,017 shares of the bank’s stock, valued at approximately $3,776,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Regions Financial during the fourth quarter worth about $254,564,000. Victory Capital Management Inc. raised its position in shares of Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after purchasing an additional 9,312,449 shares during the period. First Trust Advisors LP raised its position 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 purchasing an additional 5,754,487 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after buying an additional 2,980,505 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after buying an additional 2,371,048 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RF. Robert W. Baird reissued an “underperform” rating and set a $28.00 target price on shares of Regions Financial in a report on Monday, July 6th. Keefe, Bruyette & Woods increased their target price on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Wells Fargo & Company raised their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target on shares of Regions Financial in a research report on Friday, July 17th. Finally, Stephens started coverage on Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.24.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.61 on Thursday. The company has a 50 day moving average of $30.61 and a 200 day moving average of $28.78. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a market cap of $26.08 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.21 and a beta of 1.00. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. 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 dividend payout ratio (DPR) is 43.27%.

About Regions Financial

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.