Prudential PLC Sells 79,820 Shares of Regions Financial Co. (NYSE:RF)

Prudential PLC decreased its stake in shares of Regions Financial Co. (NYSE:RF) by 81.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,715 shares of the bank’s stock after selling 79,820 shares during the period. Prudential PLC’s holdings in Regions Financial were worth $355,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RF. Vanguard Group Inc. lifted its holdings in shares of Regions Financial by 2.7% during the fourth 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 in the last quarter. Wellington Management Group LLP raised its stake in 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 purchasing an additional 1,951,026 shares in the last quarter. Norges Bank bought a new stake in Regions Financial in the 4th quarter valued at about $210,379,000. Allspring Global Investments Holdings LLC grew its position in shares of Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after purchasing an additional 103,529 shares in the last quarter. Finally, Cincinnati Insurance Co. acquired a new position in shares of Regions Financial during the 1st quarter worth approximately $74,606,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RF has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Bank of America upped their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Truist Financial increased their price target on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Finally, Evercore ISI reduced their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.51.

Regions Financial Stock Up 0.2 %

Regions Financial stock opened at $21.97 on Friday. 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 company has a market capitalization of $20.11 billion, a PE ratio of 11.94, a PEG ratio of 2.82 and a beta of 1.17. The firm’s fifty day moving average is $21.82 and its 200 day moving average is $20.27. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, sell-side analysts predict that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.55%. 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.