Sanctuary Advisors LLC Makes New $11.64 Million Investment in Regions Financial Corporation $RF

Sanctuary Advisors LLC bought a new stake in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, Holdings Channel reports. The fund bought 385,473 shares of the bank’s stock, valued at approximately $11,641,000.

Several other large investors have also recently made changes to their positions in the business. Root Financial Partners LLC grew its stake in shares of Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock worth $248,000 after buying an additional 346 shares during the last quarter. WPG Advisers LLC raised its stake in Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after buying an additional 370 shares during the last quarter. Master S Wealth Management Inc. boosted its holdings in Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock worth $1,009,000 after acquiring an additional 372 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after acquiring an additional 373 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its holdings in Regions Financial by 17.3% in the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after acquiring an additional 381 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.0%

RF stock opened at $30.40 on Monday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The business has a fifty day moving average price of $30.66 and a 200-day moving average price of $28.80. 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 stock has a market capitalization of $25.90 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.16 and a beta of 1.00.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is currently 43.27%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald raised their price target on Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. DA Davidson increased their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Citigroup raised their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Truist Financial lifted their target price on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.24.

Regions Financial Company Profile

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.