Regions Financial Co. (NYSE:RF) Shares Purchased by Creative Planning

Creative Planning boosted its holdings in shares of Regions Financial Co. (NYSE:RF) by 38.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,892 shares of the bank’s stock after buying an additional 55,624 shares during the quarter. Creative Planning’s holdings in Regions Financial were worth $3,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Magnolia Capital Advisors LLC boosted its stake in shares of Regions Financial by 218.3% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 62,272 shares of the bank’s stock valued at $1,248,000 after buying an additional 42,705 shares during the period. Ascent Group LLC lifted its stake in Regions Financial by 8.2% in the second quarter. Ascent Group LLC now owns 65,839 shares of the bank’s stock worth $1,319,000 after acquiring an additional 4,996 shares during the last quarter. Smith Thornton Advisors LLC acquired a new position in Regions Financial during the 2nd quarter worth approximately $2,318,000. Scientech Research LLC purchased a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $217,000. Finally, MBB Public Markets I LLC acquired a new stake in shares of Regions Financial in the 2nd quarter valued at $1,343,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $22.84 on Friday. The firm has a market capitalization of $20.92 billion, a PE ratio of 12.41, a P/E/G ratio of 2.95 and a beta of 1.17. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $23.47. The firm’s 50-day simple moving average is $22.21 and its 200 day simple moving average is $20.65. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business earned $0.59 earnings per share. The company’s quarterly revenue was down 11.5% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Co. will post 2.01 EPS for the current fiscal year.

Regions Financial Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Bank of America boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods lowered their target price on shares of 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. Wells Fargo & Company increased their price target on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.36.

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.