OMERS ADMINISTRATION Corp purchased a new position in Regions Financial Corporation (NYSE:RF – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 151,504 shares of the bank’s stock, valued at approximately $4,575,000.
A number of other large investors have also recently bought and sold shares of RF. WPG Advisers LLC increased its holdings in Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after buying an additional 370 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in shares of Regions Financial during the 2nd quarter worth approximately $25,000. Darwin Wealth Management LLC bought a new stake in shares of Regions Financial during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont acquired a new stake in shares of Regions Financial during the 2nd quarter worth approximately $26,000. Finally, SouthState Bank Corp increased its stake in Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after acquiring an additional 538 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial Trading Up 0.7%
Shares of Regions Financial stock opened at $30.62 on Tuesday. The firm has a market capitalization of $26.09 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $30.70 and its 200 day moving average is $28.80. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47.
Regions Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is currently 48.98%.
Wall Street Analyst Weigh In
Several brokerages have commented on RF. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. DA Davidson lifted their price target on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.24.
View Our Latest Research Report on RF
Regions Financial Profile
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.
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