Blair William & Co. IL Sells 3,320 Shares of Regions Financial Co. (NYSE:RF)

Blair William & Co. IL lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 1.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 257,793 shares of the bank’s stock after selling 3,320 shares during the quarter. Blair William & Co. IL’s holdings in Regions Financial were worth $5,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Regions Financial by 1.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after purchasing an additional 103,529 shares during the period. Finally, Cincinnati Insurance Co. acquired a new position in Regions Financial in the 1st quarter valued at $74,606,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Regions Financial stock opened at $23.11 on Friday. The stock has a market cap of $21.16 billion, a PE ratio of 12.56, a P/E/G ratio of 2.82 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47. The business’s 50-day moving average price is $22.08 and its two-hundred day moving average price is $20.42.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company earned $0.59 EPS. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, analysts expect that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is presently 54.35%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RF. Jefferies Financial Group lifted their target price on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Bank of America lifted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Truist Financial increased their target price on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada boosted their price target on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.69.

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.