SVB Wealth LLC Makes New Investment in Regions Financial Corporation $RF

SVB Wealth LLC bought a new stake in Regions Financial Corporation (NYSE:RF) during the third quarter, HoldingsChannel reports. The fund bought 180,497 shares of the bank’s stock, valued at approximately $4,852,000.

A number of other large investors have also added to or reduced their stakes in the company. Nykredit A S purchased a new position in shares of Regions Financial during the 2nd quarter valued at about $236,756,000. Bank of America Corp DE purchased a new stake in Regions Financial in the second quarter worth approximately $219,068,000. First Trust Advisors LP boosted its stake in 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 buying an additional 5,754,487 shares in the last quarter. Legal & General Group Plc bought a new position in Regions Financial during the second quarter valued at approximately $163,654,000. Finally, Korea Investment CORP bought a new position in Regions Financial during the second quarter valued at approximately $99,190,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 0.4%

Shares of NYSE:RF opened at $28.53 on Friday. The firm has a market capitalization of $24.22 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a 50 day moving average price of $28.24 and a 200-day moving average price of $28.71. Regions Financial Corporation has a 52-week low of $23.59 and a 52-week high of $32.47.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.06. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the business earned $0.63 EPS. Regions Financial’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.70 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.20 annualized dividend and a yield of 4.2%. Regions Financial’s dividend payout ratio is 47.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RF shares. DA Davidson cut their price objective on shares of Regions Financial from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Brean Capital raised shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Monday, October 19th. Robert W. Baird upgraded shares of Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a research report on Friday, September 18th. Truist Financial reduced their price objective on Regions Financial from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Finally, JPMorgan Chase & Co. raised their price objective on Regions Financial from $30.50 to $31.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a bank holding company headquartered in Birmingham, Alabama. Its principal subsidiary, Regions Bank, provides banking and related financial services to individuals, businesses and institutions. The company’s services include consumer and commercial banking, lending, mortgage banking, treasury and payment services, and wealth management. Regions also offers services such as investment and trust management through its wealth business. Regions traces its history to First Alabama Bancshares, established in 1971, and serves customers across the South and parts of the Midwest and Texas.