Ascent Group LLC Grows Stock Holdings in Regions Financial Co. (NYSE:RF)

Ascent Group LLC raised its stake in Regions Financial Co. (NYSE:RF) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,839 shares of the bank’s stock after acquiring an additional 4,996 shares during the period. Ascent Group LLC’s holdings in Regions Financial were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cincinnati Insurance Co. bought a new stake in shares of Regions Financial in the 1st quarter worth about $74,606,000. Vanguard Group Inc. increased its holdings in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Regions Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after buying an additional 1,951,026 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Regions Financial in the 1st quarter worth about $33,829,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after buying an additional 979,597 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on RF. Morgan Stanley upped their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Bank of America upped their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Jefferies Financial Group upped their price target on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI cut their price target on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Finally, Truist Financial upped their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.06.

Regions Financial Price Performance

Shares of RF opened at $23.33 on Tuesday. The company has a 50 day moving average price of $22.18 and a 200-day moving average price of $20.55. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $23.47. The stock has a market capitalization of $21.37 billion, a PE ratio of 12.68, a PEG ratio of 2.95 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. Equities analysts predict that Regions Financial Co. will post 2.01 earnings per share for the current fiscal 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 given a $0.25 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.29%. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Regions Financial Company 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.