Arvest Bank Trust Division Acquires Shares of 9,192 Regions Financial Corporation $RF

Arvest Bank Trust Division purchased a new stake in Regions Financial Corporation (NYSE:RF) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 9,192 shares of the bank’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock worth $456,122,000 after purchasing an additional 5,521,772 shares during the last quarter. Nuveen LLC purchased a new position in shares of Regions Financial during the 1st quarter worth approximately $53,018,000. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock valued at $675,645,000 after buying an additional 1,909,162 shares in the last quarter. Amundi grew its position in Regions Financial by 20.4% in the 1st quarter. Amundi now owns 10,010,267 shares of the bank’s stock valued at $198,721,000 after acquiring an additional 1,696,347 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Regions Financial by 3.7% in the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock valued at $960,717,000 after purchasing an additional 1,562,512 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

RF stock opened at $24.95 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market cap of $21.87 billion, a P/E ratio of 10.99, a PEG ratio of 1.24 and a beta of 1.07. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The stock’s 50 day moving average price is $25.44 and its 200 day moving average price is $24.39.

Regions Financial (NYSE:RF) last announced its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. The firm had revenue of $1.81 billion during the quarter. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.265 per share. The ex-dividend date is Monday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. Regions Financial’s dividend payout ratio (DPR) is 46.70%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RF shares. Stephens restated an “equal weight” rating and set a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Cantor Fitzgerald assumed coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price target on the stock. Citigroup lifted their price target on Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, Truist Financial cut their price target on Regions Financial from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.19.

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.