12,175 Shares in Regions Financial Co. (NYSE:RF) Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC acquired a new stake in Regions Financial Co. (NYSE:RF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,175 shares of the bank’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RF. EntryPoint Capital LLC purchased a new stake in shares of Regions Financial in the first quarter valued at about $26,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after buying an additional 649 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Regions Financial in the fourth quarter valued at approximately $28,000. Glassman Wealth Services raised its position in Regions Financial by 163.3% in the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after acquiring an additional 967 shares in the last quarter. Finally, MV Capital Management Inc. raised its position in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RF shares. Keefe, Bruyette & Woods reduced their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Citigroup boosted their target price on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Bank of America raised their price target on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Truist Financial increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company raised their target price on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.51.

Regions Financial Stock Up 1.2 %

Shares of RF stock traded up $0.25 during mid-day trading on Thursday, reaching $21.14. 7,098,915 shares of the company were exchanged, compared to its average volume of 8,111,794. The company has a market capitalization of $19.36 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 1.18. The business’s 50 day simple moving average is $20.37 and its 200 day simple moving average is $19.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.88.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. Research analysts predict that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.73%. Regions Financial’s payout ratio is 54.35%.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.