Mackenzie Financial Corp Increases Stock Position in Regions Financial Co. (NYSE:RF)

Mackenzie Financial Corp boosted its stake in Regions Financial Co. (NYSE:RFGet Rating) by 31.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,235 shares of the bank’s stock after purchasing an additional 28,610 shares during the quarter. Mackenzie Financial Corp’s holdings in Regions Financial were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MTM Investment Management LLC grew its position in Regions Financial by 13.5% during the second quarter. MTM Investment Management LLC now owns 12,607 shares of the bank’s stock valued at $240,000 after acquiring an additional 1,500 shares during the last quarter. Marietta Investment Partners LLC grew its position in Regions Financial by 6.5% during the second quarter. Marietta Investment Partners LLC now owns 221,036 shares of the bank’s stock valued at $4,144,000 after acquiring an additional 13,560 shares during the last quarter. Cerity Partners LLC grew its position in Regions Financial by 39.5% during the second quarter. Cerity Partners LLC now owns 13,477 shares of the bank’s stock valued at $253,000 after acquiring an additional 3,819 shares during the last quarter. Glenview Trust Co grew its position in Regions Financial by 57.0% during the second quarter. Glenview Trust Co now owns 27,088 shares of the bank’s stock valued at $507,000 after acquiring an additional 9,833 shares during the last quarter. Finally, Qtron Investments LLC bought a new position in Regions Financial during the second quarter valued at approximately $628,000. 73.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RF. Robert W. Baird reiterated a “neutral” rating and set a $23.00 price target on shares of Regions Financial in a research report on Wednesday, August 3rd. StockNews.com assumed coverage on shares of Regions Financial in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Stephens lifted their price target on shares of Regions Financial from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 25th. Morgan Stanley lowered their price objective on Regions Financial from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, October 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Regions Financial in a research report on Wednesday, September 28th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.50.

Regions Financial Trading Up 0.1 %

Shares of NYSE:RF opened at $22.51 on Tuesday. Regions Financial Co. has a 52-week low of $18.01 and a 52-week high of $25.57. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.95 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $21.50 and a 200-day moving average price of $20.98.

Regions Financial (NYSE:RFGet Rating) last announced its quarterly earnings data on Friday, October 21st. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.16). Regions Financial had a return on equity of 14.13% and a net margin of 28.34%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that Regions Financial Co. will post 2.35 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.55%. The ex-dividend date is Wednesday, December 7th. Regions Financial’s dividend payout ratio (DPR) is 40.00%.

Regions Financial Profile

(Get Rating)

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.

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

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