Regions Financial Co. (NYSE:RF) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its stake in shares of Regions Financial Co. (NYSE:RF) 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 (NYSE:RF) last issued its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Regions Financial Co. will post 2.01 EPS for the current year.

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.

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.