Regions Financial Corporation $RF Shares Acquired by Virtus Investment Advisers LLC

Virtus Investment Advisers LLC boosted its stake in Regions Financial Corporation (NYSE:RF) by 19.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,331 shares of the bank’s stock after buying an additional 10,926 shares during the period. Virtus Investment Advisers LLC’s holdings in Regions Financial were worth $1,607,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RF. Commerzbank Aktiengesellschaft FI increased its holdings in Regions Financial by 34.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after purchasing an additional 15,820 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Regions Financial by 6.6% during the first quarter. Benjamin Edwards Inc. now owns 342,263 shares of the bank’s stock worth $7,437,000 after buying an additional 21,068 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Regions Financial by 3.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock valued at $216,866,000 after buying an additional 325,382 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Regions Financial by 4.9% in the 2nd quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock valued at $9,913,000 after buying an additional 19,579 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its holdings in shares of Regions Financial by 3.7% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 315,402 shares of the bank’s stock valued at $7,768,000 after buying an additional 11,391 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Cowen restated a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday, October 8th. Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research report on Monday, September 29th. Finally, Cantor Fitzgerald started coverage on Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average price target of $28.19.

Regions Financial Trading Up 0.2%

NYSE:RF opened at $25.46 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.63. The stock has a market cap of $22.33 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.24 and a beta of 1.07. The stock has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $24.63.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. The company had revenue of $1.81 billion for the quarter. As a group, analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.2%. The ex-dividend date is Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is currently 46.70%.

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.