Regions Financial Co. (NYSE:RF) Shares Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. boosted its position in Regions Financial Co. (NYSE:RF) by 15.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,494 shares of the bank’s stock after buying an additional 6,119 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Regions Financial were worth $912,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RF. International Assets Investment Management LLC increased its position in shares of Regions Financial by 1,620.5% in the 4th quarter. International Assets Investment Management LLC now owns 93,818 shares of the bank’s stock worth $1,818,000 after purchasing an additional 88,365 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Regions Financial by 23.6% in the 4th quarter. Federated Hermes Inc. now owns 8,681 shares of the bank’s stock worth $168,000 after purchasing an additional 1,659 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Regions Financial by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock worth $70,952,000 after purchasing an additional 606,647 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Regions Financial by 34.8% in the 4th quarter. Natixis Advisors L.P. now owns 127,198 shares of the bank’s stock worth $2,465,000 after purchasing an additional 32,855 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Regions Financial by 9.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 155,808 shares of the bank’s stock worth $3,019,000 after purchasing an additional 13,103 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Bank of America boosted their price objective 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. Jefferies Financial Group boosted their price objective 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. Finally, Royal Bank of Canada boosted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.51.

Regions Financial Stock Up 0.9 %

Shares of NYSE RF traded up $0.21 during mid-day trading on Friday, reaching $23.42. The company had a trading volume of 13,068,445 shares, compared to its average volume of 6,372,361. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 3.01 and a beta of 1.18. The stock has a fifty day moving average of $21.24 and a two-hundred day moving average of $20.00. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47.

Regions Financial (NYSE:RF) last posted its quarterly 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 net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business posted $0.59 earnings per share. Regions Financial’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities research analysts expect that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is 52.17%.

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.