IFP Advisors Inc lessened its stake in shares of Regions Financial Co. (NYSE:RF – Free Report) by 11.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,810 shares of the bank’s stock after selling 775 shares during the quarter. IFP Advisors Inc’s holdings in Regions Financial were worth $38,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of RF. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Regions Financial in the 1st quarter worth approximately $617,000. Achmea Investment Management B.V. boosted its stake in Regions Financial by 27.8% in the first quarter. Achmea Investment Management B.V. now owns 153,493 shares of the bank’s stock worth $2,849,000 after purchasing an additional 33,415 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of Regions Financial during the second quarter worth $764,000. Brown Advisory Inc. increased its stake in shares of Regions Financial by 6.0% in the first quarter. Brown Advisory Inc. now owns 93,462 shares of the bank’s stock valued at $1,735,000 after buying an additional 5,262 shares in the last quarter. Finally, Bridgeworth LLC raised its holdings in shares of Regions Financial by 18.8% in the second quarter. Bridgeworth LLC now owns 69,712 shares of the bank’s stock valued at $1,242,000 after buying an additional 11,015 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.
Regions Financial Stock Up 0.7 %
Shares of NYSE RF opened at $15.12 on Monday. The firm has a 50 day moving average price of $16.41 and a 200 day moving average price of $17.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $14.06 billion, a P/E ratio of 6.30, a P/E/G ratio of 0.98 and a beta of 1.22. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $24.33.
Regions Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.24 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.96 annualized dividend and a dividend yield of 6.35%. Regions Financial’s dividend payout ratio (DPR) is currently 40.00%.
Analyst Ratings Changes
Several equities research analysts have weighed in on RF shares. Jefferies Financial Group lowered their price objective on shares of Regions Financial from $19.00 to $17.00 in a research report on Tuesday, October 10th. Wedbush lowered Regions Financial from an “outperform” rating to a “neutral” rating in a research report on Friday, October 20th. Morgan Stanley dropped their target price on Regions Financial from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Piper Sandler cut Regions Financial from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $15.00 in a report on Wednesday, October 25th. Finally, Wells Fargo & Company cut Regions Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $24.00 to $16.00 in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and an average target price of $19.35.
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.
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