Prudential PLC Has $385,000 Stock Position in Regions Financial Corporation $RF

Key Points

• Prudential PLC sold 42,858 shares of Regions Financial, cutting its holdings by 70.8%, leaving them with 17,715 shares worth approximately $385,000.
• Regions Financial Corporation reported earnings of $0.60 per share for the last quarter, exceeding estimates and reflecting a revenue increase of 10.1% year-over-year.
• The company announced a quarterly dividend of $0.265 per share, showing a positive change from the previous dividend of $0.25, with a yield of 4.1%.

Prudential PLC decreased its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 70.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,715 shares of the bank's stock after selling 42,858 shares during the period. Prudential PLC's holdings in Regions Financial were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock worth $675,645,000 after acquiring an additional 1,909,162 shares during the last quarter. Invesco Ltd. lifted its position in Regions Financial by 35.7% in the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock worth $456,122,000 after purchasing an additional 5,521,772 shares during the period. First Trust Advisors LP lifted its position in Regions Financial by 7.7% in the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock worth $401,097,000 after purchasing an additional 1,224,645 shares during the period. Northern Trust Corp lifted its position in Regions Financial by 14.8% in the fourth quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock worth $227,176,000 after purchasing an additional 1,247,882 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Regions Financial by 11.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,369,608 shares of the bank's stock worth $220,373,000 after purchasing an additional 931,875 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Price Performance

Shares of NYSE RF traded up $0.9980 during midday trading on Friday, reaching $26.7380. 4,542,421 shares of the company traded hands, compared to its average volume of 10,101,636. The firm has a market cap of $23.86 billion, a PE ratio of 12.43, a PEG ratio of 1.49 and a beta of 1.01. The stock's 50-day simple moving average is $24.59 and its 200-day simple moving average is $22.67. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business's revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. As a group, equities analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial's dividend payout ratio (DPR) is 46.51%.

Analyst Ratings Changes

Several brokerages recently commented on RF. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Citigroup raised their target price on Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. TD Cowen began coverage on Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price for the company. Jefferies Financial Group began coverage on Regions Financial in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price for the company. Finally, Stephens raised their target price on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Eleven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $27.33.

Insiders Place Their Bets

In related news, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares of the company's stock, valued at $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger W. Jenkins purchased 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the acquisition, the director directly owned 6,383 shares of the company's stock, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

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.