Sanctuary Advisors LLC Purchases New Stake in Regions Financial Corporation $RF

Sanctuary Advisors LLC purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 385,473 shares of the bank’s stock, valued at approximately $11,641,000.

A number of other large investors have also added to or reduced their stakes in RF. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Regions Financial during the second quarter valued at about $7,104,000. Capital Square LLC bought a new stake in shares of Regions Financial in the second quarter worth about $304,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Regions Financial in the second quarter worth about $720,000. Twin Tree Management LP purchased a new position in Regions Financial during the 2nd quarter valued at about $314,000. Finally, Bank of Nova Scotia purchased a new position in Regions Financial during the 2nd quarter valued at about $11,867,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RF shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $34.00 price objective on shares of Regions Financial in a report on Monday, July 20th. Morgan Stanley boosted their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. upped their target price on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. 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 research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.24.

Regions Financial Stock Down 0.0%

RF stock opened at $30.40 on Monday. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a market capitalization of $25.90 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The business’s 50 day moving average price is $30.66 and its two-hundred day moving average price is $28.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

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

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is 43.27%.

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.