MBB Public Markets I LLC Buys Shares of 67,000 Regions Financial Co. (NYSE:RF)

MBB Public Markets I LLC bought a new stake in shares of Regions Financial Co. (NYSE:RF) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 67,000 shares of the bank’s stock, valued at approximately $1,343,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RF. AQR Capital Management LLC grew its position in Regions Financial by 27.8% in the 2nd quarter. AQR Capital Management LLC now owns 200,379 shares of the bank’s stock valued at $3,933,000 after acquiring an additional 43,557 shares during the last quarter. AXA S.A. boosted its stake in shares of Regions Financial by 122.3% during the second quarter. AXA S.A. now owns 187,749 shares of the bank’s stock valued at $3,762,000 after purchasing an additional 103,295 shares during the period. Abich Financial Wealth Management LLC grew its holdings in shares of Regions Financial by 13.2% in the second quarter. Abich Financial Wealth Management LLC now owns 6,044 shares of the bank’s stock worth $121,000 after purchasing an additional 703 shares during the last quarter. Caxton Associates LP purchased a new position in Regions Financial in the 2nd quarter worth about $2,495,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Regions Financial by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 175,995 shares of the bank’s stock valued at $3,527,000 after buying an additional 64,734 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RF. Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $23.00 to $28.00 in a research report on Tuesday, September 24th. Citigroup lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Evercore ISI cut their price target 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. Bank of America lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company increased their target price on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.06.

Regions Financial Trading Up 0.6 %

Shares of Regions Financial stock opened at $23.03 on Monday. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The firm’s 50-day moving average price is $22.18 and its 200 day moving average price is $20.54. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $21.09 billion, a PE ratio of 12.52, a P/E/G ratio of 2.95 and a beta of 1.17.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. On average, sell-side analysts predict that Regions Financial Co. will post 2.01 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

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.