AE Wealth Management LLC Has $17.45 Million Stake in Regions Financial Corporation (NYSE:RF)

AE Wealth Management LLC lessened its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 803,080 shares of the bank's stock after selling 34,681 shares during the quarter. AE Wealth Management LLC owned about 0.09% of Regions Financial worth $17,451,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Regions Financial during the fourth quarter valued at approximately $279,103,000. Invesco Ltd. raised its holdings in Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after acquiring an additional 1,963,954 shares during the period. Deutsche Bank AG lifted its position in Regions Financial by 52.7% during the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after acquiring an additional 1,907,121 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Regions Financial during the fourth quarter valued at about $31,480,000. Finally, AustralianSuper Pty Ltd bought a new stake in Regions Financial during the first quarter valued at about $28,726,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays boosted their price objective on Regions Financial from $24.00 to $27.00 and gave the stock an "underweight" rating in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Citigroup boosted their target price on shares of Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, Morgan Stanley upped their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Regions Financial Price Performance

Shares of RF traded down $0.06 during trading hours on Thursday, hitting $26.32. The stock had a trading volume of 25,188,100 shares, compared to its average volume of 10,707,842. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The stock has a market capitalization of $23.66 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.52 and a beta of 0.98. The company's fifty day moving average is $23.08 and its two-hundred day moving average is $22.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.52 EPS. Regions Financial's revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial's payout ratio is currently 46.51%.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.