QRG Capital Management Inc. Has $3.60 Million Stock Position in Regions Financial Corporation $RF

QRG Capital Management Inc. lifted its position in shares of Regions Financial Corporation (NYSE:RF) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,207 shares of the bank’s stock after purchasing an additional 11,118 shares during the quarter. QRG Capital Management Inc.’s holdings in Regions Financial were worth $3,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Merit Financial Group LLC increased its holdings in Regions Financial by 118.9% in the 1st quarter. Merit Financial Group LLC now owns 24,487 shares of the bank’s stock valued at $532,000 after buying an additional 13,301 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Regions Financial during the 1st quarter valued at about $248,000. Park Avenue Securities LLC boosted its position in shares of Regions Financial by 10.2% during the 1st quarter. Park Avenue Securities LLC now owns 76,236 shares of the bank’s stock valued at $1,657,000 after acquiring an additional 7,047 shares in the last quarter. BCS Wealth Management increased its stake in Regions Financial by 9.3% in the first quarter. BCS Wealth Management now owns 18,410 shares of the bank’s stock valued at $400,000 after acquiring an additional 1,561 shares during the period. Finally, Capital Investment Advisors LLC raised its position in Regions Financial by 8.8% in the first quarter. Capital Investment Advisors LLC now owns 29,455 shares of the bank’s stock worth $640,000 after purchasing an additional 2,374 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

Regions Financial stock opened at $25.86 on Tuesday. The stock has a 50-day simple moving average of $26.33 and a 200 day simple moving average of $23.52. The stock has a market capitalization of $23.08 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.52 and a beta of 1.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $0.52 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.265 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, September 2nd. This represents a $1.06 annualized dividend and a yield of 4.1%. Regions Financial’s dividend payout ratio is presently 49.30%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger W. Jenkins bought 4,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stephens lifted their price objective on Regions Financial from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Cantor Fitzgerald assumed coverage on Regions Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 price target on the stock. Citigroup increased their price objective on Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Wall Street Zen upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, DA Davidson upped their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.89.

About Regions Financial

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.