Fifth Third Bancorp Has $7.68 Million Stock Position in Regions Financial Corporation $RF

Fifth Third Bancorp lessened its position in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 24.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,375 shares of the bank’s stock after selling 83,567 shares during the quarter. Fifth Third Bancorp’s holdings in Regions Financial were worth $7,682,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of Regions Financial in the 2nd quarter valued at about $25,000. SouthState Bank Corp grew its position in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after buying an additional 538 shares during the period. Leonteq Securities AG bought a new stake in shares of Regions Financial during the fourth quarter worth approximately $33,000. DV Equities LLC bought a new stake in shares of Regions Financial during the fourth quarter worth approximately $33,000. Finally, Allied Private Wealth LLC acquired a new position in Regions Financial in the second quarter valued at approximately $37,000. Institutional investors own 79.39% of the company’s stock.

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Regions Financial Stock Performance

Shares of NYSE:RF opened at $31.91 on Friday. The firm’s 50 day simple moving average is $30.44 and its 200 day simple moving average is $28.70. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a market capitalization of $27.18 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF – Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (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 firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is 48.98%.

Analyst Ratings Changes

RF has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Stephens initiated coverage on shares of Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. JPMorgan Chase & Co. raised their price target on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective 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 assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.24.

Read Our Latest Stock Analysis on RF

About Regions Financial

(Free Report)

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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