Global Retirement Partners LLC Purchases New Stake in Regions Financial Corporation $RF

Global Retirement Partners LLC acquired a new position in shares of Regions Financial Corporation (NYSE:RF) in the 2nd quarter, HoldingsChannel reports. The fund acquired 45,919 shares of the bank’s stock, valued at approximately $1,387,000.

Several other large investors also recently made changes to their positions in RF. Russell Investments Group Ltd. increased its stake in Regions Financial by 8.5% during the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after purchasing an additional 165,527 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Regions Financial by 244.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after buying an additional 1,600,926 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Regions Financial in the 4th quarter valued at about $1,939,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Regions Financial by 3.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock valued at $51,247,000 after buying an additional 69,191 shares during the last quarter. Finally, Royal Palms Capital LLC acquired a new position in Regions Financial in the fourth quarter valued at approximately $4,137,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE RF opened at $31.71 on Tuesday. The stock has a market cap of $27.01 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.22 and a beta of 1.00. The firm’s 50-day simple moving average is $30.50 and its 200 day simple moving average is $28.73. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 17th. The bank reported $0.68 EPS 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 for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the company earned $0.60 EPS. Regions Financial’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. 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 annualized dividend and a yield of 3.8%. Regions Financial’s dividend payout ratio (DPR) is presently 43.27%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RF. JPMorgan Chase & Co. raised their price target on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Morgan Stanley boosted their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Cantor Fitzgerald lifted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Regions Financial currently has an average rating of “Hold” and an average target price of $32.24.

Regions Financial Profile

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.