Russell Investments Group Ltd. Increases Stock Position in Regions Financial Corporation $RF

Russell Investments Group Ltd. raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,107,015 shares of the bank’s stock after purchasing an additional 165,527 shares during the quarter. Russell Investments Group Ltd. owned 0.25% of Regions Financial worth $63,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of RF. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the 2nd quarter valued at $25,000. WPG Advisers LLC lifted its holdings in shares of Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after acquiring an additional 370 shares during the last quarter. SouthState Bank Corp grew its position in Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after acquiring an additional 538 shares in the last quarter. Leonteq Securities AG purchased a new position in Regions Financial in the fourth quarter worth $33,000. Finally, DV Equities LLC bought a new position in Regions Financial in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Stephens initiated coverage on Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective for the company. Morgan Stanley increased their price objective on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Wells Fargo & Company raised their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.24.

Regions Financial Price Performance

RF stock opened at $31.91 on Friday. 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 Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The firm’s fifty day moving average is $30.44 and its 200 day moving average is $28.70. The firm has a market cap of $27.18 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.22 and a beta of 1.00.

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

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is presently 48.98%.

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.