Gateway Wealth Partners LLC Cuts Stock Holdings in Regions Financial Corporation $RF

Gateway Wealth Partners LLC lowered its stake in shares of Regions Financial Corporation (NYSE:RF) by 50.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,008 shares of the bank’s stock after selling 30,406 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Regions Financial were worth $906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. Invesco Ltd. grew its stake in shares of Regions Financial by 3.1% in the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after acquiring an additional 573,659 shares in the last quarter. Morgan Stanley raised its holdings in shares of Regions Financial by 1.3% in the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after purchasing an additional 231,924 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Truist Financial increased their price objective on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Citigroup lifted their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, UBS Group boosted their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Six investment 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. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $32.24.

Regions Financial Stock Performance

NYSE RF opened at $31.91 on Friday. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a 50-day simple moving average of $30.44 and a 200 day simple moving average of $28.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $27.18 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts predict that Regions Financial Corporation will post 2.63 EPS for the current 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 paid a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.8%. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

Regions Financial 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.