Regions Financial Corporation (NYSE:RF) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,989,323 shares of the bank's stock after purchasing 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 reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in Regions Financial by 15.7% in the fourth quarter. Assetmark Inc. now owns 21,556 shares of the bank's stock valued at $507,000 after acquiring an additional 2,919 shares during the period. Atria Investments Inc raised its stake in shares of Regions Financial by 14.1% during the 4th quarter. Atria Investments Inc now owns 21,786 shares of the bank's stock worth $512,000 after buying an additional 2,686 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $2,393,000. Raymond James Financial Inc. acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $31,480,000. Finally, Callan Family Office LLC acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $354,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. TD Cowen assumed coverage on Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price for the company. Morgan Stanley increased their target price on Regions Financial from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 3rd. Cowen started coverage on Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. cut their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of "Moderate Buy" and a consensus price target of $26.15.

Regions Financial Price Performance

RF stock traded up $0.03 on Wednesday, reaching $24.69. 8,090,374 shares of the company's stock were exchanged, compared to its average volume of 8,947,497. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36. The firm has a market cap of $22.19 billion, a PE ratio of 11.87, a P/E/G ratio of 1.95 and a beta of 0.98. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The stock has a fifty day moving average of $22.16 and a 200-day moving average of $22.37.

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

Regions Financial Dividend Announcement

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

Regions Financial Company 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.