Heritage Wealth Management LLC Takes Position in Regions Financial Co. (NYSE:RF)

Heritage Wealth Management LLC acquired a new stake in Regions Financial Co. (NYSE:RF) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 31,350 shares of the bank’s stock, valued at approximately $633,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vaughan David Investments LLC IL grew its position in shares of Regions Financial by 4.4% in the 2nd quarter. Vaughan David Investments LLC IL now owns 1,349,589 shares of the bank’s stock valued at $27,235,000 after acquiring an additional 56,278 shares during the period. BlackRock Inc. grew its position in shares of Regions Financial by 3.6% in the 2nd quarter. BlackRock Inc. now owns 85,706,242 shares of the bank’s stock valued at $1,729,552,000 after acquiring an additional 2,994,515 shares during the period. Deutsche Bank AG grew its position in shares of Regions Financial by 2.1% in the 2nd quarter. Deutsche Bank AG now owns 3,528,507 shares of the bank’s stock valued at $71,208,000 after acquiring an additional 71,419 shares during the period. AMF Pensionsforsakring AB lifted its stake in shares of Regions Financial by 25.3% during the 2nd quarter. AMF Pensionsforsakring AB now owns 177,270 shares of the bank’s stock worth $3,577,000 after buying an additional 35,750 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Regions Financial by 36.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,007,155 shares of the bank’s stock worth $20,324,000 after buying an additional 270,416 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

RF has been the subject of a number of research reports. Citigroup initiated coverage on shares of Regions Financial in a research note on Friday, July 16th. They set a “hold” rating and a $19.29 target price for the company. Odeon Capital Group cut shares of Regions Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Morgan Stanley reiterated an “overweight” rating and issued a $19.29 price objective (down previously from $24.00) on shares of Regions Financial in a research note on Monday, July 26th. Keefe, Bruyette & Woods cut shares of Regions Financial from an “outperform” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research note on Wednesday, July 7th. Finally, Stephens cut shares of Regions Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, September 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.84.

Shares of Regions Financial stock traded up $0.03 during trading on Tuesday, reaching $19.19. 148,066 shares of the company traded hands, compared to its average volume of 8,034,293. The firm has a market capitalization of $18.32 billion, a PE ratio of 7.57, a P/E/G ratio of 1.15 and a beta of 1.52. The company has a 50 day moving average price of $19.77 and a 200-day moving average price of $20.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.82. Regions Financial Co. has a 1-year low of $10.60 and a 1-year high of $23.81.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, July 22nd. The bank reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.24. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.55 billion. Regions Financial had a net margin of 38.28% and a return on equity of 15.63%. During the same quarter in the previous year, the business posted ($0.25) EPS. Equities research analysts expect that Regions Financial Co. will post 2.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 3rd will be paid a $0.17 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $0.68 annualized dividend and a dividend yield of 3.54%. Regions Financial’s dividend payout ratio is presently 59.62%.

About Regions Financial

Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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