Certuity LLC Increases Stock Holdings in Regions Financial Co. (NYSE:RF)

Certuity LLC raised its stake in shares of Regions Financial Co. (NYSE:RF) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,417 shares of the bank’s stock after acquiring an additional 908 shares during the period. Certuity LLC’s holdings in Regions Financial were worth $2,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Regions Financial during the first quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new position in shares of Regions Financial during the 4th quarter valued at approximately $28,000. MV Capital Management Inc. increased its stake in shares of Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC purchased a new position in Regions Financial in the second quarter valued at approximately $32,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RF. Keefe, Bruyette & Woods decreased their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Truist Financial increased their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Bank of America boosted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. 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.com, Regions Financial presently has an average rating of “Hold” and a consensus price target of $21.51.

Regions Financial Trading Down 1.9 %

Shares of Regions Financial stock opened at $22.17 on Friday. The company has a 50 day simple moving average of $21.59 and a two-hundred day simple moving average of $20.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $20.30 billion, a PE ratio of 12.05, a PEG ratio of 3.01 and a beta of 1.17. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $23.47.

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

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.51%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Regions Financial Company Profile

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.