Benjamin Edwards Inc. Purchases 648 Shares of Regions Financial Co. (NYSE:RF)

Benjamin Edwards Inc. grew its position in shares of Regions Financial Co. (NYSE:RF) by 47.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,027 shares of the bank’s stock after acquiring an additional 648 shares during the period. Benjamin Edwards Inc.’s holdings in Regions Financial were worth $41,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in Regions Financial in the fourth quarter valued at $2,047,000. Corient Private Wealth LLC boosted its stake in shares of Regions Financial by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 102,438 shares of the bank’s stock valued at $1,985,000 after purchasing an additional 821 shares in the last quarter. Assetmark Inc. increased its position in shares of Regions Financial by 31.2% during the fourth quarter. Assetmark Inc. now owns 12,006 shares of the bank’s stock valued at $233,000 after buying an additional 2,854 shares during the period. Franklin Resources Inc. raised its stake in Regions Financial by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 480,090 shares of the bank’s stock worth $9,304,000 after buying an additional 28,584 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Regions Financial by 8.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 135,235 shares of the bank’s stock worth $2,621,000 after buying an additional 10,269 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 1.1 %

RF opened at $23.11 on Monday. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $22.08 and a 200-day moving average price of $20.43. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.82 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm earned $0.59 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. Equities research analysts forecast that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed 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 represents a $1.00 annualized dividend and a dividend yield of 4.33%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is 54.35%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup upped their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial increased their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday. Evercore ISI reduced their target price on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley increased their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and a consensus price target of $21.69.

About Regions Financial

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.