Thoroughbred Financial Services LLC Has $937,000 Stock Holdings in Regions Financial Co. (NYSE:RF)

Thoroughbred Financial Services LLC grew its position in shares of Regions Financial Co. (NYSE:RF) by 180.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,781 shares of the bank’s stock after purchasing an additional 30,122 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Regions Financial were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Regions Financial by 2.7% in the fourth 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 during the period. Wellington Management Group LLP lifted its stake in shares of Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares during the period. Norges Bank acquired a new position in shares of Regions Financial in the fourth quarter worth approximately $210,379,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Regions Financial by 1.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after acquiring an additional 103,529 shares during the period. Finally, Cincinnati Insurance Co. acquired a new position in shares of Regions Financial in the first quarter worth approximately $74,606,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on RF. Royal Bank of Canada lifted their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Bank of America boosted their price target on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Evercore ISI dropped their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $21.51.

Regions Financial Stock Up 0.2 %

Shares of NYSE RF opened at $21.97 on Monday. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. 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 business’s fifty day moving average price is $21.82 and its 200-day moving average price is $20.29. The stock has a market capitalization of $20.11 billion, a PE ratio of 11.94, a P/E/G ratio of 2.82 and a beta of 1.17.

Regions Financial (NYSE:RF) last issued its quarterly 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 firm 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 EPS. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is currently 54.35%.

Regions Financial 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.