Skandinaviska Enskilda Banken AB publ Decreases Stock Holdings in Regions Financial Corporation (NYSE:RF)

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,712 shares of the bank's stock after selling 61,700 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Regions Financial were worth $4,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its position 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 valued at $363,823,000 after acquiring an additional 1,963,954 shares during the period. Deutsche Bank AG increased its position 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 valued at $129,892,000 after acquiring an additional 1,907,121 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Regions Financial in the 4th quarter valued at $31,480,000. AustralianSuper Pty Ltd acquired a new position in shares of Regions Financial in the 1st quarter valued at $28,726,000. Finally, Northern Trust Corp increased its position in shares of Regions Financial by 14.8% in the 4th quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock valued at $227,176,000 after acquiring an additional 1,247,882 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RF shares. DA Davidson upped their target price on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Barclays increased their price target on Regions Financial from $24.00 to $27.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Stephens increased their price target on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Regions Financial has a consensus rating of "Moderate Buy" and a consensus target price of $27.33.

Regions Financial Price Performance

Shares of NYSE:RF traded down $0.10 during trading on Tuesday, reaching $26.20. 19,801,030 shares of the company's stock traded hands, compared to its average volume of 12,484,101. 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 quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. The firm has a market cap of $23.56 billion, a PE ratio of 12.19, a P/E/G ratio of 1.51 and a beta of 0.98. The company has a 50-day simple moving average of $23.23 and a 200-day simple moving average of $22.52.

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

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 4.05%. Regions Financial's dividend payout ratio (DPR) is currently 46.51%.

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.