Visionary Wealth Advisors Acquires Shares of 17,140 Regions Financial Corporation $RF

Visionary Wealth Advisors bought a new position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,140 shares of the bank’s stock, valued at approximately $518,000.

Several other hedge funds also recently made changes to their positions in RF. Empowered Funds LLC raised its position in shares of Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares in the last quarter. Woodline Partners LP grew its position in Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after buying an additional 22,216 shares in the last quarter. Baird Financial Group Inc. grew its position in Regions Financial by 0.7% during the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after buying an additional 511 shares in the last quarter. Federated Hermes Inc. increased its stake in Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after acquiring an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after acquiring an additional 6,690 shares during the period. 79.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RF. Wells Fargo & Company upped their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their price target on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Stephens began coverage on Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target for the company. Cantor Fitzgerald upped their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, UBS Group increased their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.24.

Regions Financial Stock Up 0.7%

Shares of 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 company has a market cap of $26.09 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $30.70 and a two-hundred day simple moving average of $28.80.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is presently 48.98%.

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.