Regions Financial Co. (NYSE:RF) Stock Position Raised by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in Regions Financial Co. (NYSE:RF) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,833 shares of the bank’s stock after acquiring an additional 6,914 shares during the period. ProShare Advisors LLC’s holdings in Regions Financial were worth $3,904,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in RF. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial during the 1st quarter worth approximately $26,000. MV Capital Management Inc. lifted its stake in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after buying an additional 618 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Regions Financial in the fourth quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial during the second quarter worth about $32,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

NYSE RF opened at $22.90 on Friday. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $23.47. The business’s fifty day moving average is $22.15 and its two-hundred day moving average is $20.49. The stock has a market capitalization of $20.97 billion, a P/E ratio of 12.45, a P/E/G ratio of 2.95 and a beta of 1.17. 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 earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business posted $0.59 earnings per share. Regions Financial’s revenue was down 11.5% compared to the same quarter last year. On average, research analysts forecast that Regions Financial Co. will post 2.01 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.37%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RF. Wells Fargo & Company lifted their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Citigroup increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Evercore ISI cut their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods decreased their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price target on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average price target of $22.06.

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.