Csenge Advisory Group Buys New Position in Regions Financial Corporation $RF

Csenge Advisory Group purchased a new position in Regions Financial Corporation (NYSE:RF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,017 shares of the bank’s stock, valued at approximately $3,776,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC increased its holdings in shares of Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Regions Financial in the 2nd quarter worth $25,000. Trust Co. of Vermont bought a new position in shares of Regions Financial in the 2nd quarter worth $26,000. SouthState Bank Corp grew its position in Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares during the period. Finally, Gables Capital Management Inc. acquired a new stake in Regions Financial in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE RF opened at $30.61 on Thursday. The company has a market capitalization of $26.08 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a 50-day simple moving average of $30.61 and a 200 day simple moving average of $28.78.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, research analysts predict that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Citigroup lifted their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Stephens assumed coverage on shares of Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Regions Financial in a research report on Monday, July 20th. Finally, Evercore reiterated an “underperform” rating and set a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.24.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.