Regions Financial Corporation (NYSE:RF) Position Trimmed by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in Regions Financial Corporation by 1.8%, now owning approximately 12.19% of the company, valued at approximately $2.4 billion.
• Regions Financial recently declared a quarterly dividend of $0.265 per share, which is an increase from the previous dividend of $0.25, reflecting a 4.3% yield for shareholders.
• Analyst ratings for Regions Financial vary, with a consensus rating of "Moderate Buy" and a target price of $27.33, while recent price targets from brokerages range from $25.00 to $31.00.

Vanguard Group Inc. lessened its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,370,275 shares of the bank's stock after selling 2,049,054 shares during the quarter. Vanguard Group Inc. owned approximately 12.19% of Regions Financial worth $2,398,346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd grew its stake in Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after acquiring an additional 1,058 shares in the last quarter. Rossby Financial LCC bought a new stake in shares of Regions Financial in the 1st quarter valued at approximately $36,000. Grove Bank & Trust grew its stake in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after buying an additional 814 shares in the last quarter. Allworth Financial LP grew its stake in shares of Regions Financial by 30.7% in the 1st quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock valued at $69,000 after buying an additional 786 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Regions Financial by 181.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after buying an additional 2,078 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Insiders Place Their Bets

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president owned 90,915 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Regions Financial Stock Up 1.1%

RF opened at $24.92 on Friday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The firm's fifty day moving average price is $23.90 and its two-hundred day moving average price is $22.60. The company has a market capitalization of $22.24 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.42 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The business's revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio is presently 46.51%.

Analyst Ratings Changes

Several brokerages recently commented on RF. The Goldman Sachs Group lowered their price target on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. TD Cowen began coverage on Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target for the company. DA Davidson boosted their price target on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Stephens boosted their price target on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.33.

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.

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