Envestnet Portfolio Solutions Inc. Purchases 81,070 Shares of Regions Financial Corporation $RF

Envestnet Portfolio Solutions Inc. lifted its position in Regions Financial Corporation (NYSE:RF) by 15.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 616,151 shares of the bank’s stock after buying an additional 81,070 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Regions Financial were worth $14,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Regions Financial by 128.6% in the first quarter. Farther Finance Advisors LLC now owns 11,105 shares of the bank’s stock worth $240,000 after acquiring an additional 6,248 shares in the last quarter. Fifth Third Bancorp increased its stake in Regions Financial by 6.0% during the 1st quarter. Fifth Third Bancorp now owns 59,869 shares of the bank’s stock worth $1,301,000 after purchasing an additional 3,366 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in Regions Financial by 5.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 18,968 shares of the bank’s stock worth $412,000 after buying an additional 947 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Regions Financial by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 243,969 shares of the bank’s stock valued at $5,301,000 after buying an additional 14,720 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Regions Financial by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 76,306 shares of the bank’s stock valued at $1,658,000 after buying an additional 802 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

Shares of RF stock opened at $24.58 on Tuesday. The company has a fifty day moving average price of $26.28 and a two-hundred day moving average price of $23.63. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The stock has a market cap of $21.93 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last issued its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The company had revenue of $1.81 billion for the quarter. As a group, equities analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.265 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. Regions Financial’s dividend payout ratio (DPR) is currently 49.30%.

Insider Activity

In other news, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the sale, the executive vice president owned 90,915 shares in the company, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roger W. Jenkins acquired 4,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the transaction, the director directly owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday, October 8th. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Morgan Stanley set a $32.00 price target on Regions Financial in a report on Monday, September 29th. DA Davidson increased their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, Stephens lifted their target price on Regions Financial from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.89.

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.