Man Group plc Buys Shares of 457,635 Regions Financial Corporation $RF

Man Group plc bought a new position in shares of Regions Financial Corporation (NYSE:RF) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 457,635 shares of the bank’s stock, valued at approximately $13,821,000. Man Group plc owned approximately 0.05% of Regions Financial as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Root Financial Partners LLC grew its position in Regions Financial by 3.9% during the fourth 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 period. WPG Advisers LLC lifted its position in shares of Regions Financial by 83.5% during the 2nd 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 period. Master S Wealth Management Inc. boosted its stake in shares of Regions Financial by 1.0% during the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock worth $1,009,000 after acquiring an additional 372 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Regions Financial by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after acquiring an additional 373 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID grew its holdings in shares of Regions Financial by 17.3% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after acquiring an additional 381 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Citigroup upped their target price on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Evercore restated an “underperform” rating and issued a $31.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Truist Financial lifted their price target on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.24.

Regions Financial Trading Down 1.0%

Shares of Regions Financial stock opened at $30.40 on Friday. The business has a 50 day moving average price of $30.81 and a 200 day moving average price of $28.80. The company has a market capitalization of $25.90 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year 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 for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $0.60 earnings per share. Regions Financial’s revenue was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. 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 dividend yield of 3.9%. Regions Financial’s dividend payout ratio 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.