Principal Financial Group Inc. reduced its stake in Regions Financial Corporation (NYSE:RF – Free Report) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 956,723 shares of the bank’s stock after selling 52,884 shares during the quarter. Principal Financial Group Inc.’s holdings in Regions Financial were worth $28,893,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares during the last quarter. Woodline Partners LP boosted its holdings in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after acquiring an additional 22,216 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after acquiring an additional 511 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Regions Financial by 81.2% in the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after acquiring an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Regions Financial by 5.0% during the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after acquiring an additional 6,690 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on RF. DA Davidson lifted their price target on Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Robert W. Baird restated an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Regions Financial presently has an average rating of “Hold” and an average price target of $32.24.
Regions Financial Stock Performance
Shares of NYSE RF opened at $31.91 on Friday. The firm has a 50 day moving average of $30.44 and a 200 day moving average of $28.70. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $27.18 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47.
Regions Financial (NYSE:RF – Get Free Report) last announced its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current year.
Regions Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is currently 43.27%.
Regions Financial Profile
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.
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