Regions Financial Corporation $RF Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 33.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,938 shares of the bank’s stock after purchasing an additional 18,751 shares during the period. D.A. Davidson & CO.’s holdings in Regions Financial were worth $1,957,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after buying an additional 22,216 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Regions Financial by 0.7% during the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after buying an additional 511 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Regions Financial by 81.2% in the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after buying an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Regions Financial by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after buying an additional 6,690 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Down 0.9%

Shares of Regions Financial stock opened at $30.82 on Wednesday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The company has a market capitalization of $26.31 billion, a PE ratio of 12.58, a P/E/G ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $29.11 and a 200-day moving average of $28.30.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.9%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is 43.27%.

Insiders Place Their Bets

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RF. Cantor Fitzgerald raised their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. UBS Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Citigroup lifted their price objective on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday. Finally, Morgan Stanley upped their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.21.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.