Magnolia Capital Advisors LLC Boosts Stock Holdings in Regions Financial Co. (NYSE:RF)

Magnolia Capital Advisors LLC grew its position in shares of Regions Financial Co. (NYSE:RF) by 218.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,272 shares of the bank’s stock after acquiring an additional 42,705 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Regions Financial were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of RF. Cambridge Investment Research Advisors Inc. boosted its holdings in 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 acquiring an additional 10,269 shares during the last quarter. TD Asset Management Inc boosted 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 worth $13,187,000 after buying an additional 31,157 shares during the last quarter. Stifel Financial Corp raised its stake in Regions Financial by 12.3% in the 4th 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 period. Treasurer of the State of North Carolina raised its stake in Regions Financial by 4.1% in the 4th quarter. Treasurer of the State of North Carolina now owns 439,645 shares of the bank’s stock valued at $8,520,000 after acquiring an additional 17,157 shares during the period. Finally, Bank of Nova Scotia raised its stake in Regions Financial by 33.4% in the 4th quarter. Bank of Nova Scotia now owns 121,051 shares of the bank’s stock valued at $2,346,000 after acquiring an additional 30,284 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 0.6 %

Shares of RF opened at $23.03 on Monday. The firm has a market cap of $21.09 billion, a P/E ratio of 12.52, a P/E/G ratio of 2.95 and a beta of 1.17. The stock has a 50 day simple moving average of $22.18 and a two-hundred day simple moving average of $20.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. 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 quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share 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 during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, analysts forecast that Regions Financial Co. will post 2.01 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.34%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s payout ratio is presently 54.35%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Evercore ISI lowered their price objective 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. Truist Financial upped their price target on Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $23.00 to $28.00 in a research report on Tuesday, September 24th. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Bank of America upped their price target on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.06.

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.