Norris Financial Group LLC Makes New Investment in Regions Financial Corporation $RF

Norris Financial Group LLC bought a new stake in Regions Financial Corporation (NYSE:RF) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 19,163 shares of the bank’s stock, valued at approximately $501,000.

Other institutional investors have also bought and sold shares of the company. Swiss Life Asset Management Ltd boosted its stake in Regions Financial by 244.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after buying an additional 1,600,926 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Regions Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock valued at $51,247,000 after buying an additional 69,191 shares during the period. Waterloo Capital L.P. boosted its stake in shares of Regions Financial by 123.7% in the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock valued at $3,683,000 after buying an additional 75,149 shares during the period. Evergreen Capital Management LLC purchased a new stake in shares of Regions Financial during the 4th quarter worth $1,939,000. Finally, Sanctuary Advisors LLC boosted its holdings in Regions Financial by 108.0% in the fourth quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank’s stock valued at $18,301,000 after purchasing an additional 350,599 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE RF opened at $30.85 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The firm has a market capitalization of $26.33 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.18 and a beta of 1.00. The business’s 50-day simple moving average is $29.65 and its 200-day simple moving average is $28.43.

Regions Financial (NYSE:RF) last posted its 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 firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities analysts predict that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s payout ratio is presently 43.27%.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RF. Citigroup increased their price objective on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. DA Davidson upped their target price on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Evercore reissued an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. upped their price objective on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.24.

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.