Andra AP fonden Cuts Stake in Regions Financial Corporation $RF

Andra AP fonden reduced its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,314 shares of the bank's stock after selling 64,023 shares during the quarter. Andra AP fonden's holdings in Regions Financial were worth $4,187,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of RF. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial during the second quarter worth approximately $25,000. SouthState Bank Corp lifted its stake in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after buying an additional 538 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Regions Financial by 91.5% during the 4th 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 Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after acquiring an additional 854 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Regions Financial in the fourth quarter valued at $33,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Up 0.2%

Shares of NYSE:RF opened at $30.87 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. The stock has a 50 day moving average of $29.20 and a 200 day moving average of $28.33. The company has a market cap of $26.35 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business's revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, equities research analysts expect that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is a positive change from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial's payout ratio is presently 43.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Monday. Stephens assumed coverage on Regions Financial in a report on Monday, June 15th. They set an "equal weight" rating and a $31.00 target price for the company. Piper Sandler dropped their target price on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, March 30th. Finally, Citigroup upped their price target on Regions Financial from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $32.21.

Insiders Place Their Bets

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

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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