The Manufacturers Life Insurance Company Has $55.38 Million Holdings in Regions Financial Corporation $RF

Key Points

• The Manufacturers Life Insurance Company reduced its Regions Financial stake by 2.9% in the second quarter, selling 55,109 shares. It still held 1.83 million shares valued at approximately $55.4 million, while institutional investors collectively owned 79.39% of the company.
• Regions Financial reported quarterly EPS of $0.68, exceeding analyst expectations of $0.63, on revenue of $1.95 billion. Net margin was 23.33% and return on equity was 12.88%.
• The bank raised its quarterly dividend from $0.27 to $0.30 per share, equivalent to a $1.20 annualized dividend and a 4.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.29.

The Manufacturers Life Insurance Company trimmed its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,833,878 shares of the bank's stock after selling 55,109 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.22% of Regions Financial worth $55,383,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of RF. WPG Advisers LLC lifted its position in shares of Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after acquiring an additional 370 shares during the period. Keating Financial Advisory Services Inc. bought a new position in Regions Financial during the second quarter worth $25,000. Darwin Wealth Management LLC acquired a new stake in Regions Financial in the second quarter worth $25,000. Trust Co. of Vermont acquired a new stake in Regions Financial in the second quarter worth $26,000. Finally, SouthState Bank Corp increased its stake in Regions Financial by 94.1% in 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 in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Up 0.7%

Regions Financial stock opened at $30.14 on Friday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.22 and a beta of 0.99. The firm's fifty day moving average price is $30.87 and its two-hundred day moving average price is $28.81. 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 (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the company earned $0.60 earnings per share. The business's revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Corporation will post 2.63 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 Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $31.50 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of Regions Financial in a research note on Friday, July 17th. Truist Financial boosted their target price on Regions Financial from $30.00 to $34.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Robert W. Baird reaffirmed an "underperform" rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Finally, Stephens assumed coverage on Regions Financial in a report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.29.

Regions Financial Profile

Regions Financial Corporation NYSE: RF is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.

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