Pinnacle Financial Partners Inc Increases Stake in Regions Financial Co. (NYSE:RF)

Pinnacle Financial Partners Inc lifted its stake in shares of Regions Financial Co. (NYSE:RFFree Report) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 144,317 shares of the bank’s stock after acquiring an additional 606 shares during the period. Pinnacle Financial Partners Inc’s holdings in Regions Financial were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of RF. Vanguard Group Inc. grew its position in Regions Financial by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock valued at $1,970,871,000 after acquiring an additional 2,982,310 shares in the last quarter. Wellington Management Group LLP lifted its stake in Regions Financial by 8.4% during the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after purchasing an additional 4,160,768 shares during the last quarter. State Street Corp lifted its stake in Regions Financial by 0.4% during the first quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after purchasing an additional 189,323 shares during the last quarter. Morgan Stanley lifted its stake in Regions Financial by 16.1% during the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after purchasing an additional 2,802,291 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after purchasing an additional 618,384 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of NYSE RF opened at $20.37 on Wednesday. The business’s 50-day moving average price is $19.05 and its two-hundred day moving average price is $17.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company has a market capitalization of $18.72 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21.

Regions Financial (NYSE:RFGet Free Report) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.09). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The business’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. Analysts anticipate that Regions Financial Co. will post 1.97 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 4.71%. Regions Financial’s dividend payout ratio (DPR) is 45.93%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RF shares. Barclays restated an “underweight” rating and set a $22.00 target price (up previously from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Stephens reiterated an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a research note on Tuesday, January 23rd. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a research note on Monday, March 18th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Truist Financial upped their price target on Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus target price of $20.34.

Get Our Latest Report on Regions Financial

Regions Financial Company Profile

(Free Report)

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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