Envestnet Asset Management Inc. Sells 584 Shares of Regions Financial Co. (NYSE:RF)

Envestnet Asset Management Inc. lowered its position in Regions Financial Co. (NYSE:RF) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 712,251 shares of the bank’s stock after selling 584 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Regions Financial worth $14,274,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. 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 in 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 buying an additional 88,437 shares during the period. UniSuper Management Pty Ltd increased 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 in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Regions Financial by 30.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock worth $8,734,000 after acquiring an additional 98,003 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RF. Royal Bank of Canada increased their target price on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. 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 report on Tuesday, July 9th. Truist Financial boosted 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, September 20th. Wells Fargo & Company raised their price target on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group boosted their price objective 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 research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.06.

Regions Financial Price Performance

Shares of NYSE RF opened at $22.92 on Wednesday. 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 business’s 50 day moving average price is $22.14 and its two-hundred day moving average price is $20.47. The company has a market cap of $20.99 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping 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 business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the firm earned $0.59 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, analysts predict that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.36%. 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. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

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.