211,042 Shares in Regions Financial Co. (NYSE:RF) Acquired by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. bought a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 211,042 shares of the bank's stock, valued at approximately $4,229,000.

Other hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Regions Financial during the 1st quarter worth approximately $26,000. ICA Group Wealth Management LLC acquired a new position in shares of Regions Financial in the 4th quarter worth approximately $28,000. Glassman Wealth Services lifted its position in shares of Regions Financial by 163.3% in the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank's stock worth $30,000 after purchasing an additional 967 shares during the period. MV Capital Management Inc. lifted its position in shares of Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank's stock worth $30,000 after purchasing an additional 618 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after purchasing an additional 1,256 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, July 3rd. Truist Financial boosted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, July 22nd. Evercore ISI dropped their price target on shares of Regions Financial from $22.00 to $21.00 and set an "in-line" rating on the stock in a research report on Tuesday, June 25th. Finally, Bank of America boosted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $21.51.

Regions Financial Stock Up 0.9 %

Shares of RF stock traded up $0.21 on Friday, hitting $23.42. The stock had a trading volume of 13,068,445 shares, compared to its average volume of 8,020,123. The business has a 50 day moving average of $21.24 and a 200 day moving average of $19.98. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company's quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. As a group, analysts expect that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is an increase from Regions Financial's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial's dividend payout ratio (DPR) is currently 54.35%.

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.

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