Fulton Bank N.A. Takes $1.81 Million Position in Regions Financial Corporation $RF

Fulton Bank N.A. purchased a new position in Regions Financial Corporation (NYSE:RF) in the 2nd quarter, HoldingsChannel reports. The fund purchased 59,789 shares of the bank’s stock, valued at approximately $1,806,000.

A number of other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC grew its position in Regions Financial by 7.2% during the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares during the last quarter. Woodline Partners LP raised its holdings in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after buying an additional 22,216 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after buying an additional 511 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Regions Financial by 81.2% in the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after buying an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Regions Financial by 5.0% during the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after buying an additional 6,690 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird reissued an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a research note on Monday, July 20th. UBS Group lifted their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Finally, Citigroup boosted their price target on Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus price target of $32.24.

Regions Financial Stock Performance

Shares of NYSE RF opened at $31.59 on Wednesday. The firm’s 50-day moving average price is $30.23 and its 200-day moving average price is $28.62. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a market cap of $26.91 billion, a PE ratio of 12.89, a PEG ratio of 1.20 and a beta of 1.00. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. Regions Financial’s payout ratio is presently 43.27%.

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.