Johnson Financial Group Inc. Purchases Shares of 62,134 Regions Financial Corporation $RF

Johnson Financial Group Inc. acquired a new stake in Regions Financial Corporation (NYSE:RF) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 62,134 shares of the bank’s stock, valued at approximately $1,893,000.

A number of other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after purchasing an additional 1,278 shares during the last quarter. Woodline Partners LP grew its position in shares of Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after buying an additional 22,216 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Regions Financial by 0.7% during the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after buying an additional 511 shares during the period. Federated Hermes Inc. raised its holdings in shares of Regions Financial by 81.2% during the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after acquiring an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Regions Financial by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after acquiring an additional 6,690 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RF. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a research report on Monday, July 20th. Evercore reiterated an “underperform” rating and set a $31.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Morgan Stanley lifted their price objective on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. increased their target price on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average target price of $32.24.

Regions Financial Stock Performance

Regions Financial stock opened at $30.61 on Thursday. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month 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 $26.08 billion, a P/E ratio of 12.49, a PEG ratio of 1.21 and a beta of 1.00. The stock’s 50 day moving average is $30.61 and its 200 day moving average is $28.78.

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. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is presently 43.27%.

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.