DNB Asset Management AS Buys 8,672 Shares of Regions Financial Co. (NYSE:RF)

DNB Asset Management AS lifted its stake in Regions Financial Co. (NYSE:RFGet Rating) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,132 shares of the bank’s stock after buying an additional 8,672 shares during the quarter. DNB Asset Management AS’s holdings in Regions Financial were worth $4,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of RF. New World Advisors LLC bought a new position in shares of Regions Financial in the third quarter worth about $440,000. MML Investors Services LLC raised its stake in Regions Financial by 30.1% during the 3rd quarter. MML Investors Services LLC now owns 103,097 shares of the bank’s stock valued at $2,197,000 after purchasing an additional 23,857 shares during the period. LPL Financial LLC raised its stake in Regions Financial by 30.7% during the 3rd quarter. LPL Financial LLC now owns 669,486 shares of the bank’s stock valued at $14,267,000 after purchasing an additional 157,092 shares during the period. Wellington Management Group LLP raised its stake in Regions Financial by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 144,482 shares of the bank’s stock valued at $3,079,000 after purchasing an additional 6,965 shares during the period. Finally, Atria Investments LLC bought a new stake in Regions Financial during the 3rd quarter valued at approximately $1,061,000. 74.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Regions Financial stock opened at $19.07 on Thursday. The stock has a 50 day moving average price of $20.78 and a 200-day moving average price of $22.20. Regions Financial Co. has a one year low of $18.02 and a one year high of $25.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.52 and a beta of 1.25.

Regions Financial (NYSE:RFGet Rating) last posted its quarterly earnings data on Friday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. Regions Financial had a return on equity of 14.96% and a net margin of 36.85%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the business earned $0.63 EPS. Regions Financial’s revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that Regions Financial Co. will post 2.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, June 2nd. Regions Financial’s payout ratio is currently 28.33%.

Several analysts recently issued reports on the company. Wolfe Research decreased their target price on Regions Financial from $24.00 to $20.00 and set a “peer perform” rating on the stock in a research note on Thursday, May 26th. Truist Financial decreased their target price on Regions Financial from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. Citigroup reissued a “buy” rating on shares of Regions Financial in a research note on Thursday, March 24th. Wells Fargo & Company raised Regions Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $24.00 to $26.00 in a research note on Monday, April 11th. Finally, Morgan Stanley cut their price target on Regions Financial from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.25.

Regions Financial Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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