26,908 Shares in Regions Financial Corporation $RF Acquired by L2 Asset Management LLC

L2 Asset Management LLC bought a new stake in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,908 shares of the bank’s stock, valued at approximately $813,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC boosted its stake in shares of Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock worth $248,000 after buying an additional 346 shares during the last quarter. WPG Advisers LLC increased its position in Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares during the last quarter. Master S Wealth Management Inc. lifted its holdings in Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock valued at $1,009,000 after acquiring an additional 372 shares during the period. Van ECK Associates Corp lifted its holdings in Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock valued at $911,000 after acquiring an additional 373 shares during the period. Finally, Legacy Wealth Managment LLC ID boosted its position in Regions Financial by 17.3% in the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after purchasing an additional 381 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Up 0.7%

NYSE RF opened at $30.62 on Tuesday. Regions Financial Corporation has a 52 week low of $22.70 and a 52 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. The company has a market capitalization of $26.09 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The stock’s 50-day moving average price is $30.70 and its 200-day moving average price is $28.80.

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

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued 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 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 48.98%.

Wall Street Analyst Weigh In

RF has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods boosted 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 report on Monday, July 20th. Robert W. Baird restated an “underperform” rating and set a $28.00 target price on shares of Regions Financial in a research report on Monday, July 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price on shares of Regions Financial in a report on Friday, July 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $34.00 price target on shares of Regions Financial in a research report on Monday, July 20th. 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.24.

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.