UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 39,851 Shares of Regions Financial Corporation $RF

Key Points

• UBS Asset Management reduced its Regions Financial stake by 0.5% in the second quarter, selling 39,851 shares but retaining 8.08 million shares worth approximately $244 million. Institutional investors collectively own 79.39% of the company.
• Regions Financial reported quarterly EPS of $0.68, exceeding analysts’ $0.63 estimate, while revenue reached $1.95 billion. Analysts expect full-year EPS of $2.63.
• The bank increased its quarterly dividend from $0.27 to $0.30 per share, implying a $1.20 annual payout and a 4.0% yield. Analysts maintain a consensus “Hold” rating with a $32.24 price target.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,079,871 shares of the bank's stock after selling 39,851 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.95% of Regions Financial worth $244,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. WPG Advisers LLC grew its position in Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock worth $25,000 after purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Regions Financial during the second quarter valued at about $25,000. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial during the second quarter valued at about $25,000. Trust Co. of Vermont bought a new stake in shares of Regions Financial in the second quarter valued at about $26,000. Finally, SouthState Bank Corp lifted its stake in shares of 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 buying an additional 538 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $29.91 on Tuesday. The firm has a market cap of $25.48 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The firm's 50-day simple moving average is $30.87 and its 200-day simple moving average is $28.79. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, research analysts expect that Regions Financial Corporation will post 2.63 EPS 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. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend 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 currently 43.27%.

Analyst Ratings Changes

Several brokerages recently issued reports on RF. Truist Financial boosted their price target on Regions Financial from $30.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $34.00 price objective on shares of Regions Financial in a research report on Monday, July 20th. Morgan Stanley lifted their price objective on Regions Financial from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Keefe, Bruyette & Woods boosted their price objective on Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Monday, July 20th. Finally, Robert W. Baird restated an "underperform" rating and issued a $28.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.24.

Regions Financial Profile

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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