Summit Financial LLC Acquires New Holdings in Regions Financial Co. (NYSE:RF)

Summit Financial LLC acquired a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 74,859 shares of the bank's stock, valued at approximately $1,518,000.

A number of other large investors have also recently added to or reduced their stakes in RF. EntryPoint Capital LLC bought a new position in shares of Regions Financial in the 1st quarter worth about $26,000. ICA Group Wealth Management LLC bought a new position in shares of Regions Financial in the 4th quarter worth about $28,000. 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 buying an additional 618 shares during the last quarter. 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 buying an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial in the 2nd quarter worth about $32,000. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on RF shares. Royal Bank of Canada increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. Jefferies Financial Group increased their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, July 3rd. Evercore ISI dropped their price objective on shares of Regions Financial from $22.00 to $21.00 and set an "in-line" rating on the stock in a report on Tuesday, June 25th. Citigroup increased their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an "equal weight" rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $21.51.

Regions Financial Price Performance

Shares of NYSE:RF traded up $0.21 during trading hours on Monday, hitting $23.42. 13,068,400 shares of the company's stock traded hands, compared to its average volume of 8,020,123. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $23.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The company's fifty day simple moving average is $21.24 and its two-hundred day simple moving average is $20.01. The company has a market cap of $21.45 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.18.

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

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This is a positive change from Regions Financial's previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.27%. Regions Financial's dividend payout ratio (DPR) is 54.35%.

Regions Financial Company 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.