Thornburg Investment Management Inc. Boosts Stake in Regions Financial Corporation $RF

Thornburg Investment Management Inc. lifted its position in Regions Financial Corporation (NYSE:RF) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,746,453 shares of the bank’s stock after purchasing an additional 231,181 shares during the quarter. Regions Financial makes up 1.9% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Thornburg Investment Management Inc.’s holdings in Regions Financial were worth $203,743,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RF. Russell Investments Group Ltd. increased its position in Regions Financial by 8.5% during the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock worth $63,645,000 after buying an additional 165,527 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock valued at $61,135,000 after acquiring an additional 1,600,926 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Regions Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock valued at $51,247,000 after acquiring an additional 69,191 shares during the last quarter. Royal Palms Capital LLC acquired a new stake in shares of Regions Financial during the fourth quarter valued at $4,137,000. Finally, Waterloo Capital L.P. increased its position in Regions Financial by 123.7% during the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock worth $3,683,000 after purchasing an additional 75,149 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

RF opened at $30.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $25.86 billion, a P/E ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The company has a 50-day moving average of $30.84 and a 200-day moving average of $28.81.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is currently 43.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RF shares. Robert W. Baird reissued an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. UBS Group increased their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Morgan Stanley lifted their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Truist Financial upped their price objective on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company raised their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $32.24.

Regions Financial Profile

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.