Family Firm Inc. Takes Position in Regions Financial Co. (NYSE:RF)

Family Firm Inc. acquired a new stake in shares of Regions Financial Co. (NYSE:RF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,789 shares of the bank’s stock, valued at approximately $56,000.

A number of other large investors also recently bought and sold shares of RF. Vanguard Group Inc. raised its position in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP grew its stake in Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the last quarter. Norges Bank bought a new position in Regions Financial in the fourth quarter worth about $210,379,000. Allspring Global Investments Holdings LLC lifted its position in shares of Regions Financial by 1.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after buying an additional 103,529 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Regions Financial by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock valued at $70,952,000 after buying an additional 606,647 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of NYSE RF opened at $22.81 on Friday. The company has a 50 day simple moving average of $20.83 and a two-hundred day simple moving average of $19.82. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.77 and a beta of 1.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $22.99.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, analysts predict that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.38%. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Analyst Ratings Changes

Several research firms recently commented on RF. Morgan Stanley boosted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Evercore ISI reduced their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Friday. Keefe, Bruyette & Woods reduced their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group raised their price target on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Regions Financial presently has an average rating of “Hold” and an average target price of $21.51.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.