Handelsbanken Fonder AB Sells 61,484 Shares of Regions Financial Corporation $RF

Key Points

• Handelsbanken Fonder AB cut its Regions Financial stake by 40.7% in the second quarter, selling 61,484 shares and retaining 89,525 shares valued at approximately $2.7 million.
• Analysts remain broadly neutral, with a consensus “Hold” rating and an average price target of $32.24; recent targets range from $31 to $35.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 EPS and $1.95 billion in revenue, and raised its quarterly dividend to $0.30 per share, implying a 3.8% annualized yield.

Handelsbanken Fonder AB decreased its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 40.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 89,525 shares of the bank's stock after selling 61,484 shares during the period. Handelsbanken Fonder AB's holdings in Regions Financial were worth $2,704,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RF. Darwin Wealth Management LLC bought a new stake in Regions Financial during the second quarter worth approximately $25,000. SouthState Bank Corp grew its holdings in Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock valued at $30,000 after purchasing an additional 538 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Regions Financial in the fourth quarter valued at approximately $33,000. DV Equities LLC bought a new position in shares of Regions Financial in the fourth quarter valued at approximately $33,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of Regions Financial in the second quarter worth $37,000. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Cantor Fitzgerald lifted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Morgan Stanley boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Evercore restated an "underperform" rating and set a $31.00 price target on shares of Regions Financial in a report on Monday, July 6th. Finally, UBS Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Regions Financial presently has a consensus rating of "Hold" and a consensus target price of $32.24.

Regions Financial Stock Up 0.0%

RF opened at $31.91 on Monday. The business has a 50 day moving average of $30.44 and a 200-day moving average of $28.71. The stock has a market capitalization of $27.18 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.22 and a beta of 1.00. 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 1-year low of $22.70 and a 1-year high of $32.47.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Regions Financial's revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.8%. This is a positive change from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio (DPR) is 43.27%.

Regions Financial Company 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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