MBM Wealth Consultants LLC Acquires 940 Shares of Regions Financial Co. (NYSE:RF)

MBM Wealth Consultants LLC raised its position in shares of Regions Financial Co. (NYSE:RFGet Rating) by 43.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,118 shares of the bank’s stock after buying an additional 940 shares during the period. MBM Wealth Consultants LLC’s holdings in Regions Financial were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Regions Financial during the 4th quarter valued at about $215,030,000. BlackRock Inc. increased its stake in Regions Financial by 9.3% during the 4th quarter. BlackRock Inc. now owns 96,711,569 shares of the bank’s stock valued at $2,108,312,000 after purchasing an additional 8,239,657 shares in the last quarter. First Trust Advisors LP increased its stake in Regions Financial by 296.5% during the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock valued at $234,902,000 after purchasing an additional 7,891,037 shares in the last quarter. Victory Capital Management Inc. increased its stake in Regions Financial by 60.4% during the 1st quarter. Victory Capital Management Inc. now owns 5,373,762 shares of the bank’s stock valued at $111,585,000 after purchasing an additional 2,023,514 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Regions Financial by 70,299.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,536,122 shares of the bank’s stock valued at $34,194,000 after purchasing an additional 1,533,940 shares in the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Keefe, Bruyette & Woods raised shares of Regions Financial from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $24.00 to $26.00 in a report on Thursday, June 2nd. Citigroup downgraded shares of Regions Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $20.00 in a report on Tuesday, July 12th. Wolfe Research lowered their price target on shares of Regions Financial from $24.00 to $20.00 and set a “peer perform” rating on the stock in a report on Thursday, May 26th. Finally, Truist Financial lowered their price target on shares of Regions Financial from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.79.

Regions Financial Stock Performance

RF opened at $22.21 on Friday. Regions Financial Co. has a 52-week low of $18.01 and a 52-week high of $25.57. The firm’s 50-day moving average price is $21.04 and its 200-day moving average price is $21.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.16. The company has a market cap of $20.75 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.32 and a beta of 1.26.

Regions Financial (NYSE:RFGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The bank reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.69 billion. Regions Financial had a net margin of 32.85% and a return on equity of 14.07%. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, equities analysts anticipate that Regions Financial Co. will post 2.34 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.20 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. Regions Financial’s dividend payout ratio (DPR) is presently 36.04%.

About Regions Financial

(Get Rating)

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.

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

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