Regions Financial Corporation $RF Shares Purchased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. increased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,746,453 shares of the bank’s stock after buying an additional 231,181 shares during the period. Regions Financial comprises 1.9% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 14th largest holding. Thornburg Investment Management Inc. owned approximately 0.79% of Regions Financial worth $203,743,000 as of its most recent SEC filing.

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

Regions Financial Trading Down 0.2%

NYSE:RF opened at $30.35 on Friday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. The stock has a market cap of $25.86 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $30.84 and a 200-day simple moving average of $28.81.

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

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is presently 43.27%.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of analyst reports. Stephens assumed coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Evercore reaffirmed an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Citigroup lifted their price target on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.