Envestnet Portfolio Solutions Inc. Acquires 98,003 Shares of Regions Financial Co. (NYSE:RF)

Envestnet Portfolio Solutions Inc. boosted its stake in Regions Financial Co. (NYSE:RF) by 30.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,105 shares of the bank’s stock after purchasing an additional 98,003 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Regions Financial were worth $8,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank grew its holdings in shares of Regions Financial by 313.5% during the third quarter. Comerica Bank now owns 290,307 shares of the bank’s stock worth $4,993,000 after purchasing an additional 220,095 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Regions Financial during the 3rd quarter worth approximately $621,000. Public Sector Pension Investment Board raised its position in shares of Regions Financial by 5.7% during the third quarter. Public Sector Pension Investment Board now owns 217,512 shares of the bank’s stock worth $3,741,000 after purchasing an additional 11,754 shares during the period. Deutsche Bank AG raised its position in shares of Regions Financial by 4.7% during the third quarter. Deutsche Bank AG now owns 4,059,601 shares of the bank’s stock worth $69,825,000 after purchasing an additional 180,446 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Regions Financial by 15.8% during the third quarter. American Century Companies Inc. now owns 2,302,905 shares of the bank’s stock worth $39,610,000 after purchasing an additional 314,255 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

NYSE RF traded down $0.24 during trading hours on Friday, hitting $20.47. The company had a trading volume of 11,428,755 shares, compared to its average volume of 8,075,916. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The firm has a 50 day simple moving average of $19.38 and a 200 day simple moving average of $19.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $18.75 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.31 and a beta of 1.18.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the business earned $0.62 EPS. The business’s revenue was down 10.5% on a year-over-year basis. Equities research analysts expect that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.69%. Regions Financial’s payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RF shares. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. Evercore ISI lowered their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group raised their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus target price of $20.39.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William C. Rhodes III acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

About Regions Financial

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.