Saudi Central Bank Has $1.81 Million Stock Holdings in Regions Financial Corporation $RF

Saudi Central Bank increased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 84.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,803 shares of the bank’s stock after buying an additional 27,436 shares during the quarter. Saudi Central Bank’s holdings in Regions Financial were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Regions Financial during the 4th quarter valued at $254,564,000. Victory Capital Management Inc. raised its holdings in shares of Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. Nykredit A S acquired a new stake in Regions Financial during the second quarter valued at $236,756,000. Bank of America Corp DE purchased a new position in Regions Financial in the second quarter valued at about $219,068,000. Finally, First Trust Advisors LP grew its stake in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

NYSE RF opened at $30.10 on Wednesday. The stock has a 50-day simple moving average of $30.90 and a 200 day simple moving average of $28.80. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The stock has a market capitalization of $25.64 billion, a PE ratio of 12.28, a P/E/G ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

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

Regions Financial Increases Dividend

The firm also recently declared 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 an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RF shares. Cantor Fitzgerald raised their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Stephens began coverage on shares of Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, UBS Group upped their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. 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 company’s stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $32.29.

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.