Luts & Greenleigh Group Inc. Acquires Shares of 11,090 Regions Financial Co. (NYSE:RF)

Luts & Greenleigh Group Inc. acquired a new stake in shares of Regions Financial Co. (NYSE:RF) in the second quarter, HoldingsChannel.com reports. The fund acquired 11,090 shares of the bank’s stock, valued at approximately $222,000.

A number of other institutional investors have also recently made changes to their positions in RF. EntryPoint Capital LLC bought a new position in shares of Regions Financial during the first quarter valued at $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Regions Financial during the 4th quarter valued at about $28,000. MV Capital Management Inc. raised its stake in Regions Financial by 75.6% during 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. Whittier Trust Co. of Nevada Inc. increased its stake in Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Regions Financial in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the subject of a number of recent analyst reports. Evercore ISI dropped their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group raised their price objective on 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 lifted their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Truist Financial raised their price objective on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a report on Monday, July 22nd. Finally, Citigroup boosted their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.51.

Regions Financial Price Performance

NYSE RF opened at $22.31 on Tuesday. The stock has a market capitalization of $20.43 billion, a P/E ratio of 12.13, a P/E/G ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $23.47. The business’s fifty day moving average is $21.87 and its two-hundred day moving average is $20.32. 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 posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping 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 analysts’ expectations of $1.76 billion. During the same period in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.48%. Regions Financial’s dividend payout ratio is currently 54.35%.

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.