Raiffeisen Bank International AG Buys 47,984 Shares of Regions Financial Corporation $RF

Raiffeisen Bank International AG boosted its position in shares of Regions Financial Corporation (NYSE:RF) by 7,509.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,623 shares of the bank’s stock after acquiring an additional 47,984 shares during the quarter. Raiffeisen Bank International AG’s holdings in Regions Financial were worth $1,472,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RF. WPG Advisers LLC lifted its position in Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after purchasing an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Regions Financial during the second quarter worth about $25,000. Trust Co. of Vermont purchased a new stake in Regions Financial during the 2nd quarter valued at approximately $26,000. Gables Capital Management Inc. bought a new stake in Regions Financial in the 2nd quarter valued at $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Regions Financial in the second quarter worth about $25,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $30.44 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $25.93 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The firm has a 50 day moving average of $30.89 and a 200 day moving average of $28.80.

Regions Financial (NYSE:RF) last announced 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. The company 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%. Regions Financial’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. On average, sell-side analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. 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 3.9%. Regions Financial’s dividend payout ratio (DPR) is presently 48.98%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RF shares. Truist Financial upped their target price 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. Citigroup increased their price target on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Morgan Stanley raised their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Friday, July 17th. Finally, Cantor Fitzgerald increased their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.24.

Regions Financial Company 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.