Greystone Financial Group LLC bought a new position in Regions Financial Co. (NYSE:RF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 342,387 shares of the bank's stock, valued at approximately $7,440,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RF. Norges Bank purchased a new position in shares of Regions Financial in the 4th quarter worth approximately $279,103,000. Invesco Ltd. boosted its stake in shares of 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 buying an additional 1,963,954 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Regions Financial by 52.7% in the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after buying an additional 1,907,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Regions Financial in the fourth quarter valued at approximately $31,480,000. Hedge funds and other institutional investors own 79.39% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on RF. Barclays dropped their target price on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped 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. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Morgan Stanley dropped their target price on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Finally, Wells Fargo & Company dropped their target price on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $25.80.
Get Our Latest Stock Report on Regions Financial
Regions Financial Price Performance
RF traded down $0.22 during trading on Thursday, reaching $22.07. The stock had a trading volume of 8,154,973 shares, compared to its average volume of 8,191,560. The stock has a market cap of $19.84 billion, a PE ratio of 11.38, a PEG ratio of 1.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a one year low of $17.74 and a one year high of $27.96. The business has a 50-day moving average of $20.79 and a 200-day moving average of $22.74.
Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. As a group, equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.
Regions Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. Regions Financial's dividend payout ratio (DPR) is currently 48.08%.
Regions Financial Profile
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Free Report)
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.
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