LJI Wealth Management LLC Purchases New Position in Regions Financial Co. (NYSE:RF)

LJI Wealth Management LLC purchased a new position in shares of Regions Financial Co. (NYSE:RF) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 29,390 shares of the bank’s stock, valued at approximately $589,000.

Other large investors have also made changes to their positions in the company. IFG Advisory LLC lifted its stake in Regions Financial by 1.8% during the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after purchasing an additional 546 shares in the last quarter. HB Wealth Management LLC raised its holdings in Regions Financial by 0.6% during the first 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 lifted its position in Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after acquiring an additional 556 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 565 shares during the period. Finally, Signet Financial Management LLC grew its position in Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after purchasing an additional 584 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RF shares. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Evercore ISI reduced 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. Jefferies Financial Group upped their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada lifted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.51.

Regions Financial Price Performance

Shares of NYSE RF opened at $22.72 on Thursday. The firm’s 50-day simple moving average is $21.97 and its 200 day simple moving average is $20.36. The stock has a market cap of $20.81 billion, a P/E ratio of 12.35, a P/E/G ratio of 2.82 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $23.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. Equities analysts expect that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio 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.