Commerce Bank Acquires Shares of 53,002 Regions Financial Corporation $RF

Commerce Bank acquired a new stake in Regions Financial Corporation (NYSE:RF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,002 shares of the bank’s stock, valued at approximately $1,601,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Regions Financial in the fourth quarter valued at approximately $254,564,000. Victory Capital Management Inc. lifted its holdings in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. First Trust Advisors LP lifted its holdings in Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after purchasing an additional 5,754,487 shares during the last quarter. Korea Investment CORP bought a new stake in Regions Financial in the 2nd quarter valued at $99,190,000. Finally, Qube Research & Technologies Ltd grew its holdings in Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after buying an additional 2,980,505 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on RF shares. Robert W. Baird reiterated an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. UBS Group boosted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. DA Davidson upped their price target on shares of Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Stephens initiated coverage on shares of Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, Cantor Fitzgerald lifted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.24.

Regions Financial Trading Up 0.1%

Shares of RF stock opened at $30.66 on Wednesday. The stock has a market cap of $26.12 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $30.73 and a 200 day simple moving average of $28.80.

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

Regions Financial Increases Dividend

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

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.