OMERS ADMINISTRATION Corp Takes Position in Regions Financial Corporation $RF

OMERS ADMINISTRATION Corp acquired a new stake in Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 151,504 shares of the bank’s stock, valued at approximately $4,575,000.

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

Regions Financial Trading Up 0.7%

RF opened at $30.62 on Tuesday. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. 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 fifty day moving average of $30.70 and a 200-day moving average of $28.80. The stock has a market cap of $26.09 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00.

Regions Financial (NYSE:RF) last announced 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 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%. Regions Financial’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. On average, sell-side analysts predict that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. Regions Financial’s dividend payout ratio is 48.98%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RF. Citigroup increased their price objective on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods lifted their target price on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Wells Fargo & Company lifted their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Six investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.