Mutual of America Capital Management LLC Has $2.31 Million Holdings in Regions Financial Co. (NYSE:RF)

Mutual of America Capital Management LLC cut its holdings in Regions Financial Co. (NYSE:RF) by 4.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,494 shares of the bank’s stock after selling 5,651 shares during the period. Mutual of America Capital Management LLC’s holdings in Regions Financial were worth $2,314,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RF. EntryPoint Capital LLC acquired a new stake in Regions Financial during the first quarter worth about $26,000. ICA Group Wealth Management LLC bought a new position in Regions Financial in the 4th quarter valued at approximately $28,000. MV Capital Management Inc. raised its holdings in Regions Financial by 75.6% during the 1st 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 last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Regions Financial by 530.0% during the 2nd 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 last quarter. Finally, Innealta Capital LLC bought a new position in Regions Financial during the 2nd quarter worth approximately $32,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.0 %

Shares of NYSE RF opened at $22.92 on Wednesday. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $23.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 2.82 and a beta of 1.17. The business has a 50-day moving average of $22.14 and a 200-day moving average of $20.47.

Regions Financial (NYSE:RF) last issued its 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 during 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%. Regions Financial’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Sell-side analysts expect that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.36%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio is presently 54.35%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RF. Wells Fargo & Company raised their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley lifted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Truist Financial lifted their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Citigroup lifted their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $23.00 to $28.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus target price of $22.06.

Regions Financial 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.