Vaughan David Investments LLC IL Purchases 56,278 Shares of Regions Financial Co. (NYSE:RF)

Vaughan David Investments LLC IL increased its position in shares of Regions Financial Co. (NYSE:RF) by 4.4% during the 2nd quarter, Holdings Channel reports. The fund owned 1,349,589 shares of the bank’s stock after buying an additional 56,278 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Regions Financial were worth $27,235,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RF. Concord Wealth Partners boosted its stake in Regions Financial by 1,538.3% during the 1st quarter. Concord Wealth Partners now owns 1,327 shares of the bank’s stock worth $27,000 after acquiring an additional 1,246 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Regions Financial during the 1st quarter worth approximately $33,000. E Fund Management Co. Ltd. bought a new position in Regions Financial during the 1st quarter worth approximately $35,000. Allred Capital Management LLC bought a new position in Regions Financial in the first quarter valued at approximately $36,000. Finally, Altshuler Shaham Ltd bought a new position in Regions Financial in the first quarter valued at approximately $37,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

RF has been the topic of a number of research reports. Citigroup initiated coverage on shares of Regions Financial in a research note on Friday, July 16th. They issued a “hold” rating and a $19.29 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $19.29 price target (down previously from $24.00) on shares of Regions Financial in a research note on Monday, July 26th. Odeon Capital Group lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Keefe, Bruyette & Woods downgraded shares of Regions Financial from an “outperform” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a report on Wednesday, July 7th. Finally, Stephens downgraded shares of Regions Financial from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $23.00 to $22.00 in a report on Wednesday, September 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average price target of $20.84.

Shares of NYSE:RF traded down $0.83 on Monday, hitting $19.00. The company had a trading volume of 156,419 shares, compared to its average volume of 8,022,467. Regions Financial Co. has a 1-year low of $10.60 and a 1-year high of $23.81. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 1.15 and a beta of 1.52. The stock has a 50 day moving average price of $19.79 and a 200 day moving average price of $20.80. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Thursday, July 22nd. The bank reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.24. Regions Financial had a net margin of 38.28% and a return on equity of 15.63%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company earned ($0.25) earnings per share. Sell-side analysts anticipate that Regions Financial Co. will post 2.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 2nd. This is a boost from Regions Financial’s previous quarterly dividend of $0.16. Regions Financial’s payout ratio is presently 59.62%.

Regions Financial Profile

Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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