LJI Wealth Management LLC Takes Position in Regions Financial Co. (NYSE:RF)

LJI Wealth Management LLC bought a new stake in Regions Financial Co. (NYSE:RF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,390 shares of the bank's stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RF. Vanguard Group Inc. boosted its position in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank's stock worth $2,281,118,000 after buying an additional 3,119,237 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank's stock worth $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock worth $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Norges Bank acquired a new stake in Regions Financial in the fourth quarter valued at $210,379,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Regions Financial by 1.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank's stock valued at $162,163,000 after purchasing an additional 103,529 shares during the period. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 2.9 %

RF stock traded up $0.65 during trading on Thursday, reaching $23.37. The stock had a trading volume of 9,119,224 shares, compared to its average volume of 7,969,646. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. The company's 50 day moving average is $21.97 and its two-hundred day moving average is $20.36.

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

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.28%. This is a positive change from Regions Financial's previous quarterly dividend of $0.24. Regions Financial's dividend payout ratio is presently 54.35%.

Analysts Set New Price Targets

A number of research firms have commented on RF. Royal Bank of Canada upped their price target on Regions Financial from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price target 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 cut 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. StockNews.com upgraded Regions Financial from a "sell" rating to a "hold" rating in a research note on Thursday, September 12th. Finally, Keefe, Bruyette & Woods dropped their price target on Regions Financial from $22.00 to $21.00 and set a "market perform" rating on the stock in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.57.

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.