Mainstay Capital Management LLC ADV grew its holdings in shares of Regions Financial Corp (NYSE:RF) by 1,678.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,224 shares of the bank’s stock after acquiring an additional 13,424 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Regions Financial were worth $800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Regions Financial by 57.8% during the 1st quarter. American Century Companies Inc. now owns 16,484 shares of the bank’s stock valued at $306,000 after buying an additional 6,039 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Regions Financial by 15.9% during the 1st quarter. Victory Capital Management Inc. now owns 163,937 shares of the bank’s stock valued at $3,046,000 after buying an additional 22,500 shares in the last quarter. State of Wisconsin Investment Board raised its holdings in shares of Regions Financial by 20.0% during the 1st quarter. State of Wisconsin Investment Board now owns 174,084 shares of the bank’s stock valued at $3,234,000 after buying an additional 28,989 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Regions Financial by 18.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,059 shares of the bank’s stock valued at $391,000 after buying an additional 3,278 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Regions Financial during the 1st quarter valued at about $227,000. Hedge funds and other institutional investors own 74.76% of the company’s stock.

Shares of Regions Financial stock opened at $19.49 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.07 and a beta of 1.26. Regions Financial Corp has a one year low of $14.23 and a one year high of $20.21.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 20th. The bank reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. equities analysts expect that Regions Financial Corp will post 1.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be paid a $0.14 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.09. This represents a $0.56 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, September 6th. Regions Financial’s payout ratio is 56.00%.

In other news, EVP C. Keith Herron sold 23,186 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total transaction of $434,969.36. Following the transaction, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at $3,837,114.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan W. Matlock sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $18.50, for a total value of $444,000.00. Following the transaction, the director now directly owns 14,914 shares in the company, valued at $275,909. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

A number of brokerages recently weighed in on RF. Wedbush set a $22.00 price objective on Regions Financial and gave the company a “buy” rating in a report on Friday, September 7th. Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. Royal Bank of Canada raised Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research note on Monday, June 18th. Finally, ValuEngine cut Regions Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Regions Financial has a consensus rating of “Hold” and an average target price of $17.57.

Regions Financial Profile

Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.

Further Reading: Technical Analysis

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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