Penserra Capital Management LLC Decreases Position in Regions Financial Corporation (NYSE:RF)

Penserra Capital Management LLC cut its stake in shares of Regions Financial Corporation (NYSE:RF) by 31.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,468 shares of the bank’s stock after selling 2,097 shares during the period. Penserra Capital Management LLC’s holdings in Regions Financial were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RF. Atria Investments Inc raised its position in Regions Financial by 14.1% during the fourth quarter. Atria Investments Inc now owns 21,786 shares of the bank’s stock valued at $512,000 after purchasing an additional 2,686 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Regions Financial in the fourth quarter worth approximately $2,393,000. Independent Advisor Alliance raised its holdings in shares of Regions Financial by 10.5% in the fourth quarter. Independent Advisor Alliance now owns 46,810 shares of the bank’s stock worth $1,101,000 after buying an additional 4,429 shares during the period. HighTower Advisors LLC raised its holdings in shares of Regions Financial by 3.2% in the fourth quarter. HighTower Advisors LLC now owns 213,977 shares of the bank’s stock worth $5,033,000 after buying an additional 6,723 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Regions Financial by 20.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 24,500 shares of the bank’s stock worth $576,000 after buying an additional 4,233 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

NYSE RF opened at $24.68 on Friday. The stock has a 50-day simple moving average of $22.41 and a two-hundred day simple moving average of $22.38. The firm has a market capitalization of $22.19 billion, a P/E ratio of 11.87, a PEG ratio of 1.95 and a beta of 0.98. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $0.37 EPS. On average, equities analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, June 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 48.08%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RF. The Goldman Sachs Group reduced their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Citigroup increased their price objective on Regions Financial from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. dropped their price objective on Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Truist Financial reissued a “hold” rating on shares of Regions Financial in a research note on Friday, May 23rd. Finally, Stephens reissued an “overweight” rating and issued a $24.00 price objective on shares of Regions Financial in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.15.

Regions Financial Company 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.