Thoroughbred Financial Services LLC Purchases 30,122 Shares of Regions Financial Co. (NYSE:RF)

Thoroughbred Financial Services LLC increased its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 180.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,781 shares of the bank's stock after purchasing an additional 30,122 shares during the quarter. Thoroughbred Financial Services LLC's holdings in Regions Financial were worth $937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. HBK Sorce Advisory LLC raised its holdings in shares of Regions Financial by 32.0% during the second quarter. HBK Sorce Advisory LLC now owns 19,902 shares of the bank's stock valued at $399,000 after acquiring an additional 4,827 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Regions Financial by 1.4% during the second quarter. GHP Investment Advisors Inc. now owns 158,250 shares of the bank's stock valued at $3,171,000 after acquiring an additional 2,211 shares during the period. Meeder Advisory Services Inc. raised its holdings in shares of Regions Financial by 17.2% during the second quarter. Meeder Advisory Services Inc. now owns 15,127 shares of the bank's stock valued at $303,000 after acquiring an additional 2,220 shares during the period. Vest Financial LLC raised its holdings in shares of Regions Financial by 26.4% during the second quarter. Vest Financial LLC now owns 1,218,820 shares of the bank's stock valued at $24,425,000 after acquiring an additional 254,320 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Regions Financial by 2.9% during the second quarter. Coldstream Capital Management Inc. now owns 131,210 shares of the bank's stock valued at $2,629,000 after acquiring an additional 3,655 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

NYSE:RF traded up $0.33 during trading hours on Monday, hitting $22.30. 6,602,390 shares of the company traded hands, compared to its average volume of 7,987,141. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The firm has a 50-day moving average of $21.82 and a 200 day moving average of $20.29. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.76 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The business's revenue was down 11.5% on a year-over-year basis. On average, analysts forecast that Regions Financial Co. will post 2 EPS for the current 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 paid a $0.25 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. Regions Financial's dividend payout ratio is currently 54.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Jefferies Financial Group boosted their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, July 3rd. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, July 22nd. Morgan Stanley boosted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Finally, Evercore ISI lowered 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 research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Regions Financial has an average rating of "Hold" and a consensus target price of $21.51.

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.