Fifth Third Bancorp Has $7.68 Million Position in Regions Financial Corporation $RF

Key Points

• Fifth Third Bancorp reduced its Regions Financial stake by 24.7% in the second quarter, selling 83,567 shares and retaining 254,375 shares valued at approximately $7.68 million. Institutional investors collectively own 79.39% of Regions Financial.
• Regions Financial reported quarterly EPS of $0.68, beating estimates of $0.63, while revenue reached $1.95 billion. The bank also raised its quarterly dividend from $0.27 to $0.30 per share, implying a 3.8% annualized yield.
• Analyst sentiment remains mixed, with six Buy, ten Hold, and four Sell ratings; the consensus rating is Hold with an average price target of $32.24.

Fifth Third Bancorp lessened its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 254,375 shares of the bank's stock after selling 83,567 shares during the quarter. Fifth Third Bancorp's holdings in Regions Financial were worth $7,682,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of Regions Financial during the 2nd quarter valued at about $25,000. SouthState Bank Corp raised its position in 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 purchasing an additional 538 shares in the last quarter. Leonteq Securities AG acquired a new position in Regions Financial in the fourth quarter worth about $33,000. DV Equities LLC acquired a new position in Regions Financial in the fourth quarter worth about $33,000. Finally, Allied Private Wealth LLC bought a new position in Regions Financial during the second quarter worth about $37,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $31.91 on Friday. The business has a fifty day moving average of $30.44 and a 200-day moving average of $28.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The firm has a market cap of $27.18 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last issued 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. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Corporation will post 2.63 EPS for the current fiscal 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 paid a $0.30 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial's payout ratio is presently 48.98%.

Analysts Set New Price Targets

RF has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Royal Bank Of Canada reissued an "outperform" rating and issued a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. Cantor Fitzgerald raised their target price on Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. UBS Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods upped their price target on Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $32.24.

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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