Vanguard Personalized Indexing Management LLC Buys 7,259 Shares of Regions Financial Co. (NYSE:RF)

Vanguard Personalized Indexing Management LLC grew its position in shares of Regions Financial Co. (NYSE:RF) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,473 shares of the bank’s stock after purchasing an additional 7,259 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Regions Financial were worth $2,247,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RF. Cincinnati Insurance Co. bought a new stake in shares of Regions Financial in the 1st quarter valued at about $74,606,000. Vanguard Group Inc. lifted its stake in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after buying an additional 1,951,026 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Regions Financial during the first quarter worth about $33,829,000. Finally, Dimensional Fund Advisors LP increased its position in Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after buying an additional 979,597 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 1.1 %

NYSE RF opened at $23.11 on Friday. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.82 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. The firm has a 50 day simple moving average of $22.08 and a 200-day simple moving average of $20.41.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Co. will post 2 EPS 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s payout ratio is presently 54.35%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RF shares. Morgan Stanley lifted their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Bank of America boosted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Evercore ISI decreased 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 note on Tuesday, June 25th. Citigroup boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group upped their target price 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. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.