Envestnet Portfolio Solutions Inc. Raises Stake in Regions Financial Corporation $RF

Envestnet Portfolio Solutions Inc. boosted its position in Regions Financial Corporation (NYSE:RF) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,863 shares of the bank’s stock after buying an additional 22,710 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Regions Financial were worth $18,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter worth approximately $25,000. United Community Bank purchased a new stake in shares of Regions Financial during the third quarter valued at approximately $30,000. Spire Wealth Management boosted its stake in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC boosted its stake in shares of Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after purchasing an additional 854 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Regions Financial during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $26.86 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The company has a market cap of $22.92 billion, a PE ratio of 11.19, a P/E/G ratio of 1.05 and a beta of 1.02. The business has a 50 day moving average of $26.89 and a 200 day moving average of $27.21. Regions Financial Corporation has a 52 week low of $20.79 and a 52 week high of $31.53.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, equities research analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio is currently 44.17%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RF shares. Cantor Fitzgerald reissued an “overweight” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. Truist Financial reissued a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a research note on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research note on Tuesday, January 20th. Finally, Piper Sandler dropped their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.06.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

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.