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

Envestnet Portfolio Solutions Inc. raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 12.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 733,501 shares of the bank’s stock after buying an additional 80,181 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Regions Financial were worth $22,152,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RF. Russell Investments Group Ltd. lifted its position in shares of Regions Financial by 8.5% in the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after acquiring an additional 165,527 shares in the last quarter. Bank of America Corp DE purchased a new stake in Regions Financial during the 2nd quarter worth about $219,068,000. Royal Palms Capital LLC acquired a new position in Regions Financial in the 4th quarter valued at about $4,137,000. Waterloo Capital L.P. raised its stake in 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 purchasing an additional 75,149 shares during the last quarter. Finally, Raiffeisen Bank International AG lifted its holdings in Regions Financial by 7,509.2% in the 2nd quarter. Raiffeisen Bank International AG now owns 48,623 shares of the bank’s stock valued at $1,472,000 after purchasing an additional 47,984 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Down 1.9%

RF traded down $0.54 during midday trading on Wednesday, hitting $27.38. The company’s stock had a trading volume of 9,337,829 shares, compared to its average volume of 11,608,185. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market cap of $23.32 billion, a P/E ratio of 11.17, a PEG ratio of 1.17 and a beta of 0.99. The firm has a 50-day moving average price of $30.61 and a two-hundred day moving average price of $28.83. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company’s revenue was up .1% on a year-over-year basis. On average, research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.4%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio is presently 48.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research note on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a research note on Monday, July 20th. JPMorgan Chase & Co. raised their target price on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Truist Financial lowered their target price on shares of Regions Financial from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, UBS Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average target price of $32.12.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.