Epoch Investment Partners Inc. lowered its holdings in Regions Financial Corporation (NYSE:RF – Free Report) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,124,296 shares of the bank’s stock after selling 123,177 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Regions Financial were worth $55,487,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Regions Financial in the fourth quarter valued at $254,564,000. Victory Capital Management Inc. lifted its position in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares in the last quarter. First Trust Advisors LP lifted its position in Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after buying an additional 5,754,487 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after acquiring an additional 2,980,505 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after acquiring an additional 2,371,048 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.
Analyst Upgrades and Downgrades
RF has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Robert W. Baird reissued an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Truist Financial increased their price target on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday. UBS Group boosted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Finally, Stephens started coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average target price of $32.21.
Insider Activity at Regions Financial
In related news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.
Regions Financial Stock Performance
Shares of NYSE:RF opened at $30.82 on Friday. The stock has a market capitalization of $26.31 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. 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 business has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $28.36.
Regions Financial (NYSE:RF – Get Free Report) last released its earnings results 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 company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up .1% compared to the same quarter last year. Equities analysts predict that Regions Financial Corporation will post 2.62 earnings per share for the current year.
Regions Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio is presently 43.27%.
Regions Financial Company 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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