AE Wealth Management LLC Acquires 606,129 Shares of Regions Financial Co. (NYSE:RF)

AE Wealth Management LLC grew its stake in Regions Financial Co. (NYSE:RF) by 1,533.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,659 shares of the bank’s stock after acquiring an additional 606,129 shares during the period. AE Wealth Management LLC owned 0.07% of Regions Financial worth $12,939,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Regions Financial during the first quarter worth $26,000. MV Capital Management Inc. raised its holdings in shares of Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the period. ICA Group Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. grew its holdings in 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 worth $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC bought a new stake in Regions Financial in the second quarter valued at approximately $32,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 1.1 %

Shares of NYSE RF opened at $23.11 on Friday. The stock has a market capitalization of $21.16 billion, a P/E ratio of 12.56, a PEG ratio of 2.82 and a beta of 1.17. The stock’s fifty day moving average is $22.08 and its 200 day moving average is $20.41. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $23.47. 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 released 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 net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the firm earned $0.59 EPS. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. Sell-side analysts forecast that Regions Financial Co. will post 2 earnings per share 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. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.33%. Regions Financial’s dividend payout ratio is presently 54.35%.

Analysts Set New Price Targets

RF has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Morgan Stanley raised their target price 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. Bank of America lifted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Truist Financial increased their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday. Finally, Keefe, Bruyette & Woods reduced their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average price target of $21.69.

Regions Financial Company 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.