Highland Capital Management LLC reduced its position in Regions Financial Co. (NYSE:RF – Get Rating) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,000 shares of the bank’s stock after selling 750 shares during the period. Highland Capital Management LLC’s holdings in Regions Financial were worth $825,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. American International Group Inc. increased its stake in shares of Regions Financial by 0.3% in the fourth quarter. American International Group Inc. now owns 285,991 shares of the bank’s stock worth $6,235,000 after buying an additional 861 shares during the period. Schroder Investment Management Group grew its holdings in Regions Financial by 85.0% during the 4th quarter. Schroder Investment Management Group now owns 1,318,847 shares of the bank’s stock valued at $28,751,000 after buying an additional 606,071 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Regions Financial by 31.1% during the 4th quarter. Hilltop Holdings Inc. now owns 20,528 shares of the bank’s stock valued at $447,000 after acquiring an additional 4,875 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Regions Financial by 26.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 224,809 shares of the bank’s stock valued at $4,900,000 after acquiring an additional 47,599 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Regions Financial in the fourth quarter worth $279,000. 73.61% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Citigroup lowered Regions Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods upgraded Regions Financial from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $24.00 to $26.00 in a research report on Thursday, June 2nd. Wedbush upped their price target on Regions Financial to $24.00 in a research note on Monday, July 25th. Truist Financial decreased their target price on Regions Financial from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. Finally, Jefferies Financial Group reduced their price target on Regions Financial from $24.00 to $22.00 in a research report on Monday, July 11th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.79.
Regions Financial Stock Performance
Regions Financial (NYSE:RF – Get Rating) last released its earnings results on Friday, July 22nd. The bank reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.69 billion. Regions Financial had a return on equity of 14.07% and a net margin of 32.85%. During the same period in the prior year, the firm posted $0.77 earnings per share. Research analysts predict that Regions Financial Co. will post 2.35 EPS for the current fiscal year.
Regions Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Thursday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.17. Regions Financial’s dividend payout ratio is 36.04%.
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.
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