Truist Financial Corp increased its stake in shares of Regions Financial Co. (NYSE:RF – Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,853 shares of the bank’s stock after acquiring an additional 4,001 shares during the period. Truist Financial Corp’s holdings in Regions Financial were worth $3,825,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of RF. IFG Advisory LLC boosted its stake in shares of Regions Financial by 1.8% during the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares in the last quarter. HB Wealth Management LLC grew its holdings in Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after purchasing an additional 551 shares during the period. CWM LLC grew its holdings in Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the period. Perigon Wealth Management LLC increased its position in shares of Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after buying an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC raised its stake in shares of Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.
Regions Financial Stock Down 0.3 %
Shares of RF opened at $22.74 on Wednesday. The stock has a fifty day simple moving average of $22.22 and a two-hundred day simple moving average of $20.71. 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 $20.83 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $23.47.
Regions Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.40%. Regions Financial’s dividend payout ratio is currently 54.35%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Jefferies Financial Group lifted their target price on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $28.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group lifted their price objective on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup increased their target price on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.86.
Read Our Latest Research Report on RF
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.
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