Massmutual Trust Co. FSB ADV grew its position in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 27.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,388 shares of the bank's stock after acquiring an additional 732 shares during the period. Massmutual Trust Co. FSB ADV's holdings in Regions Financial were worth $64,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in RF. Covestor Ltd acquired a new stake in shares of Regions Financial during the 4th quarter valued at about $43,000. Level Four Advisory Services LLC lifted its holdings in shares of Regions Financial by 59.3% during the 4th quarter. Level Four Advisory Services LLC now owns 21,836 shares of the bank's stock valued at $476,000 after buying an additional 8,132 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Regions Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,182,959 shares of the bank's stock valued at $439,159,000 after acquiring an additional 311,615 shares in the last quarter. American International Group Inc. raised its stake in shares of Regions Financial by 0.3% in the 4th quarter. American International Group Inc. now owns 285,991 shares of the bank's stock valued at $6,235,000 after acquiring an additional 861 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Regions Financial by 85.0% in the 4th quarter. Schroder Investment Management Group now owns 1,318,847 shares of the bank's stock valued at $28,751,000 after acquiring an additional 606,071 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.
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Regions Financial Price Performance
Shares of NYSE:RF opened at $22.24 on Tuesday. The business's 50 day moving average is $21.42 and its 200-day moving average is $21.12. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $20.78 billion, a PE ratio of 10.02, a PEG ratio of 0.56 and a beta of 1.26. Regions Financial Co. has a 1-year low of $18.01 and a 1-year high of $25.57.
Regions Financial (NYSE:RF – Get Rating) last announced its quarterly earnings results on Friday, July 22nd. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.69 billion. Regions Financial had a return on equity of 14.07% and a net
margin of 32.85%. During the same quarter in the previous year, the firm earned $0.77 EPS. Sell-side analysts predict that Regions Financial Co. will post 2.35 earnings per share for the current year.
Regions Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $0.20 dividend. This is a positive change from Regions Financial's previous quarterly dividend of $0.17. The ex-dividend date is Thursday, September 1st. This represents a $0.80 annualized dividend and a yield of 3.60%. Regions Financial's payout ratio is currently 36.04%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Robert W. Baird reissued a "neutral" rating and issued a $23.00 price objective on shares of Regions Financial in a research note on Wednesday, August 3rd. Morgan Stanley raised their price objective on Regions Financial from $26.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, July 25th. Wedbush raised their price objective on Regions Financial to $24.00 in a research note on Monday, July 25th. Wolfe Research cut their price objective on Regions Financial from $24.00 to $20.00 and set a "peer perform" rating on the stock in a research note on Thursday, May 26th. Finally, Jefferies Financial Group dropped their price target on Regions Financial from $24.00 to $22.00 in a research report on Monday, July 11th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of "Moderate Buy" and a consensus price target of $24.79.
Regions Financial Profile
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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.
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