IFG Advisory LLC Acquires 546 Shares of Regions Financial Co. (NYSE:RF)

IFG Advisory LLC raised its stake in shares of Regions Financial Co. (NYSE:RF) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,928 shares of the bank’s stock after purchasing an additional 546 shares during the quarter. IFG Advisory LLC’s holdings in Regions Financial were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Regions Financial by 281.7% in the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after acquiring an additional 58,739 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of Regions Financial by 35.6% in the 4th quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock valued at $2,968,000 after purchasing an additional 40,200 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Regions Financial by 1,676.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock valued at $1,816,000 after purchasing an additional 88,437 shares during the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in shares of Regions Financial by 1,075.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock valued at $942,000 after purchasing an additional 40,972 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company raised their price target on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.51.

Regions Financial Stock Performance

Shares of RF opened at $23.42 on Friday. The company has a 50-day simple moving average of $21.24 and a two-hundred day simple moving average of $20.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $21.43 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.18. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47.

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

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. Regions Financial’s dividend payout ratio is currently 52.17%.

Regions Financial 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.