Waddell & Associates LLC Increases Holdings in Regions Financial Co. (NYSE:RF)

Waddell & Associates LLC grew its holdings in Regions Financial Co. (NYSE:RF) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,220 shares of the bank’s stock after acquiring an additional 1,057 shares during the period. Waddell & Associates LLC’s holdings in Regions Financial were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. IFG Advisory LLC lifted its position in shares of Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after buying an additional 546 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after buying an additional 551 shares in the last quarter. CWM LLC lifted its position in shares of Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after buying an additional 556 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after buying an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC lifted its position in shares of Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Trading Down 1.9 %

NYSE:RF traded down $0.44 during midday trading on Friday, hitting $22.17. The stock had a trading volume of 8,837,397 shares, compared to its average volume of 7,999,071. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. The company has a market capitalization of $20.30 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 3.01 and a beta of 1.17. The stock has a 50-day moving average of $21.59 and a 200 day moving average of $20.15. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. Regions Financial’s revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts forecast that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is currently 54.35%.

Analyst Ratings Changes

A number of research firms recently commented on RF. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Citigroup boosted their target price on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Jefferies Financial Group boosted their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Truist Financial boosted their price objective on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Hold” and an average target price of $21.51.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.