Regions Financial Co. (NYSE:RF) Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Regions Financial Co. (NYSE:RF) by 113.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,937 shares of the bank’s stock after acquiring an additional 44,523 shares during the quarter. Intech Investment Management LLC’s holdings in Regions Financial were worth $1,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cincinnati Insurance Co. bought a new stake in shares of Regions Financial during the 1st quarter worth $74,606,000. Vanguard Group Inc. increased its stake in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP raised its holdings in Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after buying an additional 1,951,026 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Regions Financial during the first quarter valued at about $33,829,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after buying an additional 979,597 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group upped their price target 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. Evercore ISI lowered their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Bank of America upped their price target on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods lowered their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Finally, Truist Financial upped their target price on Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.69.

Regions Financial Stock Down 0.9 %

RF opened at $22.91 on Tuesday. The firm has a market cap of $20.98 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The business has a 50 day moving average price of $22.12 and a 200 day moving average price of $20.45. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings data 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 the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. Research analysts forecast that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

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

About Regions Financial

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.