Janney Montgomery Scott LLC lifted its holdings in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 91.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,289 shares of the bank’s stock after purchasing an additional 58,893 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Regions Financial were worth $3,723,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter valued at approximately $25,000. SouthState Bank Corp grew its stake in Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after buying an additional 538 shares in the last quarter. Leonteq Securities AG purchased a new position in Regions Financial in the 4th quarter worth approximately $33,000. DV Equities LLC bought a new position in shares of Regions Financial in the 4th quarter worth $33,000. Finally, Allied Private Wealth LLC bought a new position in shares of Regions Financial in the 2nd quarter worth $37,000. 79.39% of the stock is currently owned by institutional investors.
Regions Financial Trading Up 0.8%
RF stock opened at $31.91 on Friday. The company has a market capitalization of $27.18 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The company’s 50 day moving average price is $30.44 and its two-hundred day moving average price is $28.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.
Regions Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 48.98%.
Analyst Upgrades and Downgrades
RF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Truist Financial upped their target price on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. UBS Group increased their target price on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $32.24.
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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