Gateway Wealth Partners LLC Purchases 31,188 Shares of Regions Financial Corporation $RF

Gateway Wealth Partners LLC raised its position in Regions Financial Corporation (NYSE:RF) by 106.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,414 shares of the bank’s stock after acquiring an additional 31,188 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Regions Financial were worth $1,578,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Regions Financial during the fourth quarter worth about $254,564,000. Victory Capital Management Inc. increased its holdings in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after purchasing an additional 9,312,449 shares during the period. First Trust Advisors LP increased its holdings in Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares during the period. Qube Research & Technologies Ltd increased its holdings in Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after purchasing an additional 2,980,505 shares during the period. Finally, AQR Capital Management LLC raised its position in Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after purchasing an additional 2,371,048 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Stephens assumed coverage on Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price for the company. Royal Bank Of Canada restated an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. Finally, Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Six investment 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, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $32.21.

Insider Activity

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

Regions Financial Price Performance

Shares of NYSE RF opened at $31.29 on Wednesday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $29.52 and its 200 day moving average is $28.40. The stock has a market capitalization of $26.70 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.18 and a beta of 1.00.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. Regions Financial’s revenue was up .1% on a year-over-year basis. On average, sell-side analysts expect that Regions Financial Corporation will post 2.62 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial’s dividend payout ratio (DPR) is currently 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.