Connor Clark & Lunn Investment Management Ltd. Invests $7.10 Million in Regions Financial Corporation $RF

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Regions Financial Corporation (NYSE:RF) during the second quarter, HoldingsChannel.com reports. The fund purchased 235,228 shares of the bank’s stock, valued at approximately $7,104,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Root Financial Partners LLC raised its position 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 purchasing an additional 346 shares during the last quarter. WPG Advisers LLC increased its stake in 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 purchasing an additional 370 shares in the last quarter. Master S Wealth Management Inc. raised 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 worth $1,009,000 after buying an additional 372 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after buying an additional 373 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID increased its position in shares of Regions Financial by 17.3% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock valued at $68,000 after acquiring an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RF. Morgan Stanley increased 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. Wells Fargo & Company lifted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. UBS Group lifted their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a research note on Monday, July 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and a consensus target price of $32.24.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $30.74 on Thursday. The company has a 50 day moving average price of $30.77 and a 200 day moving average price of $28.81. The firm has a market capitalization of $26.19 billion, a P/E ratio of 12.55, a PEG ratio of 1.17 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion for 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 company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. Sell-side analysts expect that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

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

About Regions Financial

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.