Innealta Capital LLC Makes New $32,000 Investment in Regions Financial Co. (NYSE:RF)

Innealta Capital LLC bought a new stake in shares of Regions Financial Co. (NYSE:RF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,606 shares of the bank’s stock, valued at approximately $32,000.

Several other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Regions Financial in the first quarter valued at about $26,000. ICA Group Wealth Management LLC purchased a new position in Regions Financial during the 4th quarter valued at about $28,000. MV Capital Management Inc. raised its holdings in shares of Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position 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, EdgeRock Capital LLC bought a new position in shares of Regions Financial during the second quarter valued at approximately $33,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RF shares. Morgan Stanley upped their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Citigroup upped their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Truist Financial lifted their target price on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.51.

Regions Financial Stock Performance

Shares of RF stock opened at $23.42 on Friday. The business has a fifty day moving average of $21.24 and a 200 day moving average of $19.98. Regions Financial Co. has a 1 year low of $13.72 and a 1 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 firm has a market capitalization of $21.45 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. As a group, research analysts expect that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.27%. 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 payout ratio is presently 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.