Bank of New York Mellon Corp Purchases 32,082 Shares of Regions Financial Corporation (NYSE:RF)

Bank of New York Mellon Corp boosted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,989,323 shares of the bank's stock after acquiring an additional 32,082 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Regions Financial worth $130,148,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Foster Victor Wealth Advisors LLC lifted its position in shares of Regions Financial by 5.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock worth $6,606,000 after buying an additional 15,652 shares in the last quarter. LBP AM SA lifted its position in shares of Regions Financial by 149.4% during the 4th quarter. LBP AM SA now owns 730,614 shares of the bank's stock worth $17,184,000 after buying an additional 437,691 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Regions Financial by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock worth $52,762,000 after buying an additional 21,169 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Regions Financial by 62.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock worth $440,000 after buying an additional 7,822 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Regions Financial by 13.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock worth $3,424,000 after buying an additional 18,684 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

Regions Financial stock traded down $0.16 during mid-day trading on Friday, reaching $24.68. The company's stock had a trading volume of 6,445,149 shares, compared to its average volume of 8,346,350. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.96. The company has a market capitalization of $22.19 billion, a P/E ratio of 11.87, a PEG ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84. The firm's fifty day moving average price is $22.41 and its two-hundred day moving average price is $22.39.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business earned $0.37 EPS. Sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

Analyst Ratings Changes

Several equities analysts have commented on RF shares. Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Barclays decreased their price target on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. TD Cowen began coverage on shares of Regions Financial in a research note on Thursday, May 15th. They set a "buy" rating and a $31.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Finally, Truist Financial restated a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and a consensus target price of $26.15.

Regions Financial Profile

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.