Bank of Montreal Can Has $95.02 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Bank of Montreal Can lowered its stake in Regions Financial Co. (NYSE:RF) by 2.8% during the second quarter, Holdings Channel.com reports. The fund owned 4,738,988 shares of the bank’s stock after selling 137,848 shares during the period. Bank of Montreal Can’s holdings in Regions Financial were worth $95,017,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Regions Financial in the 1st quarter valued at about $26,000. ICA Group Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter valued at about $28,000. MV Capital Management Inc. grew its holdings in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Regions Financial in the second quarter valued at approximately $32,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RF shares. Royal Bank of Canada boosted their target price on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods cut their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Bank of America increased their target price on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Evercore ISI decreased their price objective 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. Finally, Truist Financial lifted their target price on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, September 20th. One 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. According to MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus price target of $22.06.

Regions Financial Price Performance

Shares of RF opened at $22.92 on Wednesday. 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 stock has a market cap of $20.99 billion, a PE ratio of 12.46, a PEG ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47. The business has a 50-day simple moving average of $22.14 and a two-hundred day simple moving average of $20.47.

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, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. Analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

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