Manning & Napier Advisors LLC Purchases New Shares in Regions Financial Corporation (NYSE:RF)

Manning & Napier Advisors LLC purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 56,392 shares of the bank's stock, valued at approximately $1,225,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after buying an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock valued at $540,284,000 after acquiring an additional 403,283 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Regions Financial by 7.7% during the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock valued at $401,097,000 after acquiring an additional 1,224,645 shares during the last quarter. Invesco Ltd. increased its position in Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Finally, Norges Bank purchased a new stake in Regions Financial during the 4th quarter worth about $279,103,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Cowen assumed coverage on shares of Regions Financial in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research note on Sunday, June 15th. Finally, Truist Financial restated a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. 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. According to MarketBeat.com, Regions Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.80.

Regions Financial Trading Up 0.2%

RF stock traded up $0.05 during midday trading on Friday, reaching $23.40. 10,651,443 shares of the company's stock traded hands, compared to its average volume of 8,371,251. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The business has a 50-day moving average price of $21.48 and a two-hundred day moving average price of $22.40. The company has a market capitalization of $21.03 billion, a P/E ratio of 11.25, a PEG ratio of 1.82 and a beta of 0.96.

Regions Financial (NYSE:RF - Get Free Report) last issued 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 net margin of 21.43% and a return on equity of 13.04%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm posted $0.37 EPS. Equities research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio is presently 48.08%.

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.