Bahl & Gaynor Inc. Has $13.41 Million Position in Regions Financial Co. (NYSE:RF)

Bahl & Gaynor Inc. lowered its position in Regions Financial Co. (NYSE:RF) by 51.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 668,946 shares of the bank’s stock after selling 701,422 shares during the quarter. Bahl & Gaynor Inc. owned 0.07% of Regions Financial worth $13,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RF. Norges Bank acquired a new position in shares of Regions Financial in the fourth quarter valued at approximately $210,379,000. Cincinnati Insurance Co. acquired a new stake in Regions Financial during the 1st quarter valued at approximately $74,606,000. Vanguard Group Inc. increased its position in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Wellington Management Group LLP increased its position in Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Regions Financial during the 1st quarter valued at approximately $33,829,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group increased their target price on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Bank of America increased their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Evercore ISI cut their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Finally, Royal Bank of Canada increased their price target on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Two research 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.51.

Regions Financial Trading Down 1.4 %

NYSE RF opened at $22.00 on Thursday. The firm has a market capitalization of $20.15 billion, a P/E ratio of 11.96, a PEG ratio of 2.84 and a beta of 1.17. The business has a fifty day simple moving average of $21.73 and a 200 day simple moving average of $20.23. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $23.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts predict that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.55%. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Regions Financial 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.