Gateway Wealth Partners LLC Reduces Holdings in Regions Financial Corporation $RF

Gateway Wealth Partners LLC decreased its position in shares of Regions Financial Corporation (NYSE:RF) by 50.3% in the 2nd quarter, Holdings Channel reports. The fund owned 30,008 shares of the bank’s stock after selling 30,406 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Regions Financial were worth $906,000 as of its most recent filing with the SEC.

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

Regions Financial Stock Up 0.8%

RF stock opened at $31.91 on Friday. 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 firm has a market capitalization of $27.18 billion, a PE ratio of 13.02, a PEG ratio of 1.21 and a beta of 1.00. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The stock has a 50-day simple moving average of $30.44 and a two-hundred day simple moving average of $28.70.

Regions Financial (NYSE:RF) last announced 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. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, equities analysts predict that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced 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 is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. Regions Financial’s payout ratio is currently 43.27%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RF shares. Citigroup upped their price target on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, July 20th. DA Davidson lifted their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Truist Financial lifted their price objective on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. 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 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. According to data from MarketBeat, the company 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.