Resonant Capital Advisors LLC Has $432,000 Position in Regions Financial Co. (NYSE:RF)

Resonant Capital Advisors LLC raised its holdings in Regions Financial Co. (NYSE:RF) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,339 shares of the bank’s stock after buying an additional 2,154 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Regions Financial were worth $432,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RF. Financial Counselors Inc. boosted its position in shares of Regions Financial by 1.8% during the 2nd quarter. Financial Counselors Inc. now owns 648,742 shares of the bank’s stock valued at $13,001,000 after acquiring an additional 11,454 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Regions Financial by 4.7% during the second quarter. Natixis Advisors LLC now owns 133,998 shares of the bank’s stock valued at $2,685,000 after purchasing an additional 6,070 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Regions Financial by 1.7% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,634,399 shares of the bank’s stock valued at $32,753,000 after purchasing an additional 26,576 shares during the period. Summit Financial LLC bought a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $1,518,000. Finally, Montag A & Associates Inc. raised its holdings in shares of Regions Financial by 2.0% in the 2nd quarter. Montag A & Associates Inc. now owns 31,110 shares of the bank’s stock worth $631,000 after buying an additional 616 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Up 0.9 %

Shares of RF opened at $23.42 on Tuesday. The firm has a market capitalization of $21.45 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.18. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $21.24 and its 200-day simple moving average is $20.01.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts predict that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Analysts Set New Price Targets

A number of analysts have weighed in on RF shares. Morgan Stanley upped their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Truist Financial boosted their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Evercore ISI dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Citigroup boosted their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.51.

Regions Financial Company Profile

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.