Pacer Advisors Inc. Purchases 2,837 Shares of Regions Financial Co. (NYSE:RF)

Pacer Advisors Inc. grew its position in Regions Financial Co. (NYSE:RF) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,078 shares of the bank’s stock after purchasing an additional 2,837 shares during the period. Pacer Advisors Inc.’s holdings in Regions Financial were worth $1,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RF. Corient Private Wealth LLC boosted its holdings in Regions Financial by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 102,438 shares of the bank’s stock worth $1,985,000 after purchasing an additional 821 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Regions Financial by 8.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 135,235 shares of the bank’s stock worth $2,621,000 after buying an additional 10,269 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Regions Financial by 4.8% in the 4th quarter. TD Asset Management Inc now owns 680,448 shares of the bank’s stock valued at $13,187,000 after acquiring an additional 31,157 shares in the last quarter. Stifel Financial Corp increased its position in shares of Regions Financial by 12.3% in the fourth quarter. Stifel Financial Corp now owns 293,432 shares of the bank’s stock valued at $5,687,000 after acquiring an additional 32,085 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Regions Financial by 4.1% during the fourth quarter. Treasurer of the State of North Carolina now owns 439,645 shares of the bank’s stock worth $8,520,000 after acquiring an additional 17,157 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RF shares. Wells Fargo & Company raised their price target on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Jefferies Financial Group boosted their target price 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. Truist Financial increased their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.06.

Regions Financial Price Performance

NYSE:RF opened at $23.02 on Friday. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $23.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50-day simple moving average is $22.16 and its 200 day simple moving average is $20.51. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 2.95 and a beta of 1.17.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. As a group, sell-side analysts predict that Regions Financial Co. will post 2.01 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is 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.