Jefferies Financial Group Inc. Purchases New Stake in Regions Financial Corporation $RF

Jefferies Financial Group Inc. acquired a new position in shares of Regions Financial Corporation (NYSE:RFFree Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 92,713 shares of the bank’s stock, valued at approximately $2,800,000.

Several other institutional investors also recently made changes to their positions in RF. Empowered Funds LLC lifted its stake in shares of Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares during the period. Woodline Partners LP grew its position in Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after buying an additional 22,216 shares during the period. Baird Financial Group Inc. increased its holdings in Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after buying an additional 511 shares in the last quarter. Federated Hermes Inc. increased its holdings in Regions Financial by 81.2% in the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after buying an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after acquiring an additional 6,690 shares during the period. 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 recently commented on RF shares. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Wells Fargo & Company raised their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Robert W. Baird reaffirmed an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Cantor Fitzgerald boosted their target price on Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, DA Davidson upped their target price on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.24.

Check Out Our Latest Research Report on Regions Financial

Regions Financial Stock Performance

Shares of RF opened at $30.35 on Friday. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. The stock has a market cap of $25.86 billion, a P/E ratio of 12.39, a PEG 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 company has a 50-day moving average of $30.84 and a two-hundred day moving average of $28.81.

Regions Financial (NYSE:RFGet Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts predict that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. Regions Financial’s payout ratio is currently 43.27%.

About Regions Financial

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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