Empowered Funds LLC Invests $2.26 Million in Regions Financial Corporation $RF

Empowered Funds LLC bought a new stake in Regions Financial Corporation (NYSE:RF) in the second quarter, Holdings Channel.com reports. The institutional investor bought 74,778 shares of the bank’s stock, valued at approximately $2,258,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Capital Financial Advisors LLC bought a new stake in shares of Regions Financial during the second quarter valued at approximately $2,180,000. Brooks Moore & Associates Inc. acquired a new stake in Regions Financial in the 2nd quarter valued at $456,000. Equitable Holdings Inc. bought a new stake in Regions Financial during the 2nd quarter valued at $676,000. Centaurus Financial Inc. bought a new stake in Regions Financial during the 2nd quarter valued at $294,000. Finally, Jefferies Financial Group Inc. acquired a new position in Regions Financial during the second quarter worth $2,800,000. Institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of a number of analyst reports. Stephens assumed coverage on shares of Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Truist Financial raised their price target on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods lifted their price target on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Finally, Robert W. Baird reissued an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Six 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 MarketBeat, Regions Financial has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial Price Performance

RF opened at $29.95 on Thursday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $25.52 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.20 and a beta of 0.99. The firm’s fifty day moving average price is $30.88 and its two-hundred day moving average price is $28.78.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 17th. The bank reported $0.68 EPS 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 company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 4.0%. Regions Financial’s dividend payout ratio (DPR) is 48.98%.

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.