Massachusetts Financial Services Co. MA raised its stake in Regions Financial Corporation (NYSE:RF – Free Report) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,192,487 shares of the bank’s stock after purchasing an additional 70,621 shares during the period. Massachusetts Financial Services Co. MA owned 0.84% of Regions Financial worth $217,605,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Empowered Funds LLC increased its holdings in Regions Financial by 7.2% in 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 lifted its holdings in Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after buying an additional 22,216 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Regions Financial by 0.7% during the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after buying an additional 511 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after acquiring an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Regions Financial by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after acquiring an additional 6,690 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.
Wall Street Analyst Weigh In
RF has been the topic of several research reports. Robert W. Baird reissued an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Truist Financial lifted their price objective on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Cantor Fitzgerald boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, Stephens began coverage on shares of Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. Based on 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 RF stock opened at $31.91 on Friday. The company has a market cap of $27.18 billion, a P/E ratio of 13.02, a PEG ratio of 1.21 and a beta of 1.00. The business has a 50 day moving average of $30.44 and a two-hundred day moving average of $28.70. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26.
Regions Financial (NYSE:RF – Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. As a group, analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current year.
Regions Financial Increases Dividend
The business 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 $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is 43.27%.
About Regions Financial
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.
Featured Stories
- Five stocks we like better than Regions Financial
- Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
- Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
- NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
- Sandisk’s Margins Look Like Software. Can They Last?
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.
