Ethic Inc. Purchases 26,849 Shares of Regions Financial Co. (NYSE:RF)

Ethic Inc. raised its position in Regions Financial Co. (NYSE:RFGet Rating) by 24.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,802 shares of the bank’s stock after purchasing an additional 26,849 shares during the period. Ethic Inc.’s holdings in Regions Financial were worth $3,001,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Regions Financial during the 4th quarter worth $215,030,000. BlackRock Inc. lifted its holdings in shares of Regions Financial by 9.3% during the 4th quarter. BlackRock Inc. now owns 96,711,569 shares of the bank’s stock worth $2,108,312,000 after acquiring an additional 8,239,657 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Regions Financial by 296.5% during the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock worth $234,902,000 after acquiring an additional 7,891,037 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Regions Financial by 60.4% during the 1st quarter. Victory Capital Management Inc. now owns 5,373,762 shares of the bank’s stock worth $111,585,000 after acquiring an additional 2,023,514 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Regions Financial by 70,299.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,536,122 shares of the bank’s stock worth $34,194,000 after acquiring an additional 1,533,940 shares during the last quarter. 73.61% of the stock is owned by institutional investors.

Regions Financial Price Performance

RF stock opened at $22.21 on Friday. The firm’s 50-day moving average price is $21.04 and its two-hundred day moving average price is $21.18. Regions Financial Co. has a 12-month low of $18.01 and a 12-month high of $25.57. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 0.32 and a beta of 1.26. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.16.

Regions Financial (NYSE:RFGet Rating) last announced its quarterly earnings results on Friday, July 22nd. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. Regions Financial had a net margin of 32.85% and a return on equity of 14.07%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. As a group, equities analysts predict that Regions Financial Co. will post 2.34 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.60%. This is a boost from Regions Financial’s previous quarterly dividend of $0.17. Regions Financial’s payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Robert W. Baird reissued a “neutral” rating and issued a $23.00 price target on shares of Regions Financial in a research note on Wednesday, August 3rd. Wolfe Research lowered their price target on shares of Regions Financial from $24.00 to $20.00 and set a “peer perform” rating for the company in a research note on Thursday, May 26th. Truist Financial lowered their price target on shares of Regions Financial from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 15th. The Goldman Sachs Group lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Finally, Citigroup downgraded shares of Regions Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $20.00 in a research note on Tuesday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.79.

About Regions Financial

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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.

See Also

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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