Principal Financial Group Inc. Has $25.38 Million Stake in Regions Financial Co. (NYSE:RF)

Principal Financial Group Inc. lifted its position in shares of Regions Financial Co. (NYSE:RF) by 3.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,087,697 shares of the bank’s stock after purchasing an additional 34,125 shares during the quarter. Principal Financial Group Inc.’s holdings in Regions Financial were worth $25,376,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after buying an additional 1,014,706 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Regions Financial by 17.1% in the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock valued at $59,421,000 after acquiring an additional 433,319 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Regions Financial by 12.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 2,343,629 shares of the bank’s stock valued at $46,966,000 after acquiring an additional 266,934 shares during the period. Finally, National Pension Service increased its stake in shares of Regions Financial by 6.3% during the 3rd quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after purchasing an additional 102,380 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Down 0.1 %

Shares of NYSE RF opened at $26.18 on Wednesday. Regions Financial Co. has a 52 week low of $14.86 and a 52 week high of $26.33. The stock’s fifty day moving average is $23.33 and its 200 day moving average is $21.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $23.79 billion, a P/E ratio of 14.80, a PEG ratio of 2.68 and a beta of 1.16.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Sell-side analysts forecast that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.82%. Regions Financial’s payout ratio is 56.50%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. DA Davidson boosted their target price on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Evercore ISI raised their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Wedbush upped their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Truist Financial raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

About Regions Financial

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.