PFG Advisors Makes New Investment in Regions Financial Corporation $RF

PFG Advisors purchased a new stake in Regions Financial Corporation (NYSE:RF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,126 shares of the bank’s stock, valued at approximately $215,000.

A number of other hedge funds have also modified their holdings of the business. CVA Family Office LLC raised its position in shares of Regions Financial by 163.2% during the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares during the last quarter. American National Bank & Trust increased its position in Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares in the last quarter. Bayforest Capital Ltd increased its position in Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after buying an additional 1,058 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Regions Financial in the second quarter worth $30,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Regions Financial in the second quarter valued at $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

RF opened at $25.38 on Thursday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company’s 50 day simple moving average is $25.53 and its 200 day simple moving average is $24.35. The stock has a market capitalization of $22.25 billion, a PE ratio of 11.18, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The company had revenue of $1.81 billion for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.265 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 4.2%. Regions Financial’s dividend payout ratio (DPR) is presently 46.70%.

Analysts Set New Price Targets

A number of research firms recently commented on RF. Keefe, Bruyette & Woods increased their price objective on Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Citigroup upped their target price on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research note on Monday, September 29th. Stephens reissued an “equal weight” rating and issued a $27.00 price objective (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Finally, Cantor Fitzgerald began coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.19.

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.