Janney Montgomery Scott LLC Raises Holdings in Regions Financial Corporation $RF

by · The Markets Daily

Janney Montgomery Scott LLC increased its stake in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 91.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,289 shares of the bank’s stock after acquiring an additional 58,893 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Regions Financial were worth $3,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Darwin Wealth Management LLC bought a new stake in Regions Financial in the second quarter valued at approximately $25,000. SouthState Bank Corp grew its holdings in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Regions Financial in the fourth quarter worth approximately $33,000. DV Equities LLC purchased a new position in shares of Regions Financial in the fourth quarter worth $33,000. Finally, Allied Private Wealth LLC purchased a new position in shares of Regions Financial in the second quarter worth $37,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RF. Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a report on Monday, July 20th. Citigroup boosted their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Stephens started coverage on shares of Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, DA Davidson increased their target price on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average price target of $32.24.

Get Our Latest Stock Report on Regions Financial

Regions Financial Stock Up 0.8%

Shares of NYSE RF opened at $31.91 on Friday. The firm has a fifty day simple moving average of $30.44 and a two-hundred day simple moving average of $28.70. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $27.18 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00.

Regions Financial (NYSE:RF – Get Free Report) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is presently 48.98%.

Regions Financial Profile

(Free Report)

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.

Further Reading

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