Northwestern Mutual Wealth Management Co. Makes New Investment in Regions Financial Corporation $RF

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) during the 2nd quarter, HoldingsChannel reports. The fund acquired 123,093 shares of the bank’s stock, valued at approximately $3,717,000.

Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Regions Financial during the second quarter worth about $1,573,000. Fortress Financial Group LLC purchased a new position in Regions Financial in the 2nd quarter valued at about $335,000. Evolve Private Wealth LLC purchased a new position in Regions Financial in the 2nd quarter valued at about $329,000. Westpac Banking Corp acquired a new stake in Regions Financial in the 2nd quarter worth about $57,000. Finally, Korea Investment CORP acquired a new stake in Regions Financial in the 2nd quarter worth about $99,190,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RF shares. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Evercore reissued an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.24.

Regions Financial Trading Up 0.7%

RF opened at $30.62 on Tuesday. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The stock has a market capitalization of $26.09 billion, a PE ratio of 12.50, a P/E/G ratio of 1.16 and a beta of 1.00. The business’s 50 day moving average price is $30.70 and its 200 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 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 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 firm earned $0.60 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. 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. Regions Financial’s dividend payout ratio (DPR) is currently 48.98%.

Regions Financial 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.