Norris Financial Group LLC Invests $501,000 in Regions Financial Corporation $RF

Norris Financial Group LLC bought a new position in Regions Financial Corporation (NYSE:RF) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,163 shares of the bank’s stock, valued at approximately $501,000.

Several other hedge funds also recently made changes to their positions in RF. Swiss Life Asset Management Ltd raised its position in shares of Regions Financial by 244.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock valued at $61,135,000 after buying an additional 1,600,926 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Regions Financial by 3.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock valued at $51,247,000 after buying an additional 69,191 shares during the last quarter. Waterloo Capital L.P. boosted its position in Regions Financial by 123.7% in the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock valued at $3,683,000 after buying an additional 75,149 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in Regions Financial during the 4th quarter valued at about $1,939,000. Finally, Sanctuary Advisors LLC lifted its stake in shares of Regions Financial by 108.0% in the 4th quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank’s stock valued at $18,301,000 after purchasing an additional 350,599 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RF has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Evercore reaffirmed an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Keefe, Bruyette & Woods raised their price target on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Finally, DA Davidson boosted their target price on Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and an average target price of $32.24.

Regions Financial Price Performance

Regions Financial stock opened at $30.85 on Friday. The stock’s 50 day moving average price is $29.65 and its two-hundred day moving average price is $28.43. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The stock has a market capitalization of $26.33 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

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

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 payout ratio is 43.27%.

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.