Acadian Asset Management LLC Acquires New Shares in Regions Financial Co. (NYSE:RF)

Acadian Asset Management LLC bought a new stake in Regions Financial Co. (NYSE:RF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,990 shares of the bank’s stock, valued at approximately $320,000.

Other institutional investors have also recently bought and sold shares of the company. IFG Advisory LLC lifted its stake in shares of Regions Financial by 1.8% in the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after acquiring an additional 546 shares during the last quarter. HB Wealth Management LLC increased its holdings in Regions Financial by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after purchasing an additional 551 shares in the last quarter. CWM LLC increased its holdings in Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after purchasing an additional 556 shares in the last quarter. Perigon Wealth Management LLC raised its position in Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares during the last quarter. Finally, Signet Financial Management LLC boosted its stake in shares of Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after purchasing an additional 584 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RF. Bank of America lifted their target price on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Wells Fargo & Company upped their target price on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Jefferies Financial Group raised their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Citigroup boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.57.

Regions Financial Trading Up 2.9 %

Shares of Regions Financial stock opened at $23.37 on Friday. The stock has a market capitalization of $21.40 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $23.47. The stock has a 50 day moving average price of $22.02 and a two-hundred day moving average price of $20.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.59 EPS. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, equities analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. Regions Financial’s dividend payout ratio is currently 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.