Regions Financial Co. (NYSE:RF) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. increased its stake in shares of Regions Financial Co. (NYSE:RF) by 20.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,496 shares of the bank’s stock after acquiring an additional 28,675 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Regions Financial were worth $3,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RF. Vanguard Group Inc. lifted its holdings 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 last quarter. Bessemer Group Inc. lifted its stake in Regions Financial by 281.7% in the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock valued at $1,675,000 after buying an additional 58,739 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Regions Financial by 1,676.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock valued at $1,816,000 after acquiring an additional 88,437 shares during the period. UniSuper Management Pty Ltd grew its position in shares of Regions Financial by 1,075.7% during the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after acquiring an additional 40,972 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Regions Financial by 30.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after acquiring an additional 98,003 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

RF opened at $23.11 on Friday. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $23.47. The stock has a market cap of $21.16 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.82 and a beta of 1.17. The stock’s 50 day simple moving average is $22.08 and its 200 day simple moving average is $20.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The business’s revenue was down 11.5% on a year-over-year basis. As a group, equities analysts anticipate that Regions Financial Co. will post 2 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 given a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.33%. Regions Financial’s dividend payout ratio is currently 54.35%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RF shares. Jefferies Financial Group increased their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Morgan Stanley increased 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. Evercore ISI dropped their price target on 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. Keefe, Bruyette & Woods decreased their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Truist Financial lifted their target price on Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Regions Financial has an average rating of “Hold” and a consensus 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.