Los Angeles Capital Management LLC Takes $980,000 Position in Regions Financial Corporation $RF

Los Angeles Capital Management LLC bought a new position in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 41,663 shares of the bank’s stock, valued at approximately $980,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust raised its position in shares of Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after acquiring an additional 1,022 shares in the last quarter. CVA Family Office LLC grew its stake in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares during the period. Bayforest Capital Ltd increased its holdings in Regions Financial by 637.3% in the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after purchasing an additional 1,058 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Regions Financial in the second quarter worth approximately $30,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Regions Financial in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

RF stock opened at $25.38 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. The business has a 50-day simple moving average of $25.53 and a two-hundred day simple moving average of $24.35. The company has a market capitalization of $22.25 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.07. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The company had revenue of $1.81 billion for the quarter. Research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.265 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. Regions Financial’s dividend payout ratio is presently 46.70%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a research report on Monday, September 29th. Stephens restated an “equal weight” rating and issued a $27.00 price target (down from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Keefe, Bruyette & Woods upped their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Cantor Fitzgerald began coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Citigroup boosted their target price on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $28.19.

Regions Financial 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.