Tredje AP fonden Has $1.97 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Tredje AP fonden cut its stake in shares of Regions Financial Co. (NYSE:RF) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,201 shares of the bank’s stock after selling 1,584 shares during the period. Tredje AP fonden’s holdings in Regions Financial were worth $1,968,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RF. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial during the first quarter worth $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth $28,000. MV Capital Management Inc. raised its position in shares of Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Regions Financial during the second quarter valued at $32,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RF. Truist Financial lifted their price target on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods lowered their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley lifted their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Citigroup lifted their price target on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.57.

Regions Financial Stock Up 2.9 %

Shares of Regions Financial stock opened at $23.37 on Friday. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47. The stock has a market capitalization of $21.40 billion, a P/E ratio of 12.70, a PEG ratio of 2.82 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $22.02 and a two-hundred day moving average price of $20.39.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. Equities analysts expect that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.28%. Regions Financial’s payout ratio is presently 54.35%.

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.