Equitable Holdings Inc. Invests $676,000 in Regions Financial Corporation $RF

Equitable Holdings Inc. acquired a new stake in Regions Financial Corporation (NYSE:RF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,398 shares of the bank’s stock, valued at approximately $676,000.

Other large investors also recently bought and sold shares of the company. WPG Advisers LLC boosted its holdings in shares of Regions Financial by 83.5% in 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. Keating Financial Advisory Services Inc. acquired a new position in shares of Regions Financial during the second quarter worth about $25,000. Darwin Wealth Management LLC purchased a new position in Regions Financial during the second quarter worth about $25,000. Trust Co. of Vermont purchased a new position in Regions Financial during the second quarter worth about $26,000. Finally, SouthState Bank Corp lifted its position in Regions Financial by 94.1% in the fourth 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. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 0.2%

Shares of RF stock opened at $30.35 on Friday. The firm has a 50-day moving average price of $30.84 and a 200 day moving average price of $28.81. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced 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 represents a $1.20 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio is presently 43.27%.

Analyst Upgrades and Downgrades

RF has been the subject of several recent analyst reports. UBS Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Cantor Fitzgerald increased their price objective on Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Citigroup boosted their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average target price 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.