Regions Financial Co. (NYSE:RF) Shares Purchased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC boosted its stake in shares of Regions Financial Co. (NYSE:RF) by 32.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,902 shares of the bank’s stock after acquiring an additional 4,827 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Regions Financial were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of RF. Vanguard Group Inc. raised its holdings in Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Regions Financial by 281.7% in the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock valued at $1,675,000 after buying an additional 58,739 shares during the period. Mizuho Markets Americas LLC boosted its stake in shares of Regions Financial by 35.6% in the fourth quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock valued at $2,968,000 after buying an additional 40,200 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Regions Financial by 1,676.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock worth $1,816,000 after acquiring an additional 88,437 shares during the period. Finally, UniSuper Management Pty Ltd raised its position in Regions Financial by 1,075.7% in the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after acquiring an additional 40,972 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on RF shares. Bank of America boosted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Jefferies Financial Group upped their target price 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. Evercore ISI reduced their price target on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Truist Financial lifted their price objective on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.51.

Regions Financial Stock Up 0.2 %

Shares of NYSE RF opened at $21.97 on Friday. The firm’s 50 day moving average price is $21.82 and its 200 day moving average price is $20.28. 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 has a market cap of $20.11 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $23.47.

Regions Financial (NYSE:RF) last posted 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 business had revenue of $1.73 billion for 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 business’s revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2 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. Investors of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.55%. This is an increase 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 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.