NEOS Investment Management LLC Boosts Position in Regions Financial Corporation $RF

NEOS Investment Management LLC raised its position in Regions Financial Corporation (NYSE:RF) by 13.7% during the 2nd quarter, Holdings Channel reports. The firm owned 143,202 shares of the bank’s stock after acquiring an additional 17,235 shares during the quarter. NEOS Investment Management LLC’s holdings in Regions Financial were worth $4,325,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RF. WPG Advisers LLC raised its stake in shares of Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after buying an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Regions Financial in the 2nd quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in Regions Financial in the 2nd quarter valued at about $26,000. Gables Capital Management Inc. acquired a new stake in Regions Financial in the 2nd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC purchased a new position in Regions Financial during the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RF. Morgan Stanley lifted their target price 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. Robert W. Baird reiterated an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Friday, July 17th. Stephens initiated coverage on 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, JPMorgan Chase & Co. upped their target price on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Six investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.24.

Regions Financial Trading Up 0.1%

Shares of RF stock opened at $30.44 on Monday. The company has a market capitalization of $25.93 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.25 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $30.89 and a 200 day moving average price of $28.79. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47.

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

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is 48.98%.

Regions Financial Company 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.