abrdn plc Buys 341,878 Shares of Regions Financial Co. (NYSE:RF)

abrdn plc increased its stake in Regions Financial Co. (NYSE:RF) by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,350,151 shares of the bank’s stock after purchasing an additional 341,878 shares during the period. abrdn plc owned approximately 0.25% of Regions Financial worth $45,546,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Regions Financial by 2.7% in the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock worth $1,970,871,000 after purchasing an additional 2,982,310 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Regions Financial by 8.4% in the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after purchasing an additional 4,160,768 shares during the last quarter. State Street Corp increased its position in shares of Regions Financial by 0.4% in the first quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after purchasing an additional 189,323 shares during the last quarter. Morgan Stanley boosted its stake in Regions Financial by 16.1% in the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after buying an additional 2,802,291 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Regions Financial by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after buying an additional 618,384 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $18.90 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.37 billion, a PE ratio of 10.27, a P/E/G ratio of 1.37 and a beta of 1.21. The business has a 50 day moving average of $19.32 and a 200 day moving average of $18.01. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. Regions Financial’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, equities research analysts forecast that Regions Financial Co. will post 1.97 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.08%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley upped their target price on Regions Financial from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Stephens reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research note on Tuesday, January 23rd. Barclays reaffirmed an “underweight” rating and issued a $22.00 target price (up previously from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Evercore ISI upped their target price on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada upped their target price on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average price target of $20.39.

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.