Manning & Napier Advisors LLC Invests $3.63 Million in Regions Financial Corporation $RF

Manning & Napier Advisors LLC purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 119,941 shares of the bank’s stock, valued at approximately $3,631,000.

A number of other hedge funds also recently added to or reduced their stakes in RF. Root Financial Partners LLC boosted its stake in Regions Financial by 3.9% during the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after purchasing an additional 346 shares during the last quarter. WPG Advisers LLC lifted its stake in Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares during the period. Master S Wealth Management Inc. boosted its holdings in shares of Regions Financial by 1.0% during the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock valued at $1,009,000 after acquiring an additional 372 shares during the last quarter. Van ECK Associates Corp lifted its position in Regions Financial by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock valued at $911,000 after purchasing an additional 373 shares during the period. Finally, Legacy Wealth Managment LLC ID raised its stake in Regions Financial by 17.3% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock valued at $68,000 after buying an additional 381 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Trading Up 0.7%

Regions Financial stock opened at $30.62 on Tuesday. The firm has a 50 day moving average of $30.70 and a 200 day moving average of $28.80. The firm has a market capitalization of $26.09 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.16 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 48.98%.

Analysts Set New Price Targets

RF has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Morgan Stanley increased their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Truist Financial lifted their price target on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Stephens initiated coverage on shares of Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Evercore reaffirmed an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Regions Financial has a consensus rating of “Hold” and an average price target of $32.24.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.