Bank of New York Mellon Corp lifted its holdings in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 12.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,460,310 shares of the bank’s stock after acquiring an additional 736,296 shares during the period. Bank of New York Mellon Corp’s holdings in Regions Financial were worth $175,074,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the second quarter worth about $25,000. Spire Wealth Management grew its stake in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after acquiring an additional 557 shares during the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after acquiring an additional 854 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Regions Financial during the fourth quarter worth about $33,000. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Regions Financial during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.
Regions Financial Price Performance
Shares of NYSE RF opened at $28.57 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 52 week low of $21.40 and a 52 week high of $31.53. The business’s 50 day moving average price is $27.48 and its 200 day moving average price is $27.49. The firm has a market cap of $24.38 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.00.
Regions Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.
Insider Activity
In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on RF shares. JPMorgan Chase & Co. dropped their target price on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Piper Sandler dropped their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Royal Bank Of Canada upped their target price on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. DA Davidson upped their target price on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Truist Financial reiterated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Regions Financial currently has a consensus rating of “Hold” and an average price target of $30.47.
View Our Latest Analysis on Regions Financial
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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