Regions Financial Corporation $RF Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in Regions Financial Corporation (NYSE:RF) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,192,487 shares of the bank’s stock after buying an additional 70,621 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Regions Financial were worth $217,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in RF. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after buying an additional 215,061 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares in the last quarter. Invesco Ltd. increased its position in Regions Financial by 3.1% in the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock valued at $524,337,000 after acquiring an additional 573,659 shares during the period. Morgan Stanley increased its position in Regions Financial by 1.3% in the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after acquiring an additional 231,924 shares during the period. Finally, First Trust Advisors LP increased its position in Regions Financial by 75.7% in the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after acquiring an additional 5,754,487 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the subject of a number of analyst reports. Citigroup boosted their price target on Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Evercore reissued an “underperform” rating and set a $31.00 price target on shares of Regions Financial in a report on Monday, July 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Stephens initiated coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.24.

Regions Financial Price Performance

NYSE RF opened at $31.91 on Friday. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. The firm has a market capitalization of $27.18 billion, a PE ratio of 13.02, a P/E/G ratio of 1.21 and a beta of 1.00. The company’s 50 day simple moving average is $30.44 and its 200 day simple moving average is $28.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, equities research analysts forecast that Regions Financial Corporation will post 2.63 EPS 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. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio (DPR) is presently 43.27%.

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.