DNB Asset Management AS Acquires 18,659 Shares of Regions Financial Co. (NYSE:RF)

DNB Asset Management AS lifted its holdings in Regions Financial Co. (NYSE:RF) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 158,688 shares of the bank’s stock after purchasing an additional 18,659 shares during the period. DNB Asset Management AS’s holdings in Regions Financial were worth $3,180,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Regions Financial in the 4th quarter worth approximately $210,379,000. Cincinnati Insurance Co. purchased a new stake in Regions Financial in the 1st quarter worth approximately $74,606,000. Vanguard Group Inc. increased its holdings in Regions Financial by 2.7% in the 4th 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 in the last quarter. Wellington Management Group LLP increased its holdings in Regions Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Regions Financial in the 1st quarter worth approximately $33,829,000. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RF shares. Citigroup increased their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Truist Financial increased their target price on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Piper Sandler increased their target price on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods lowered their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Bank of America raised their price target on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average price target of $21.51.

Regions Financial Price Performance

Shares of RF stock opened at $21.07 on Wednesday. The stock’s 50-day moving average is $20.11 and its 200 day moving average is $19.58. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $22.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $19.30 billion, a P/E ratio of 11.24, a PEG ratio of 2.77 and a beta of 1.18.

Regions Financial (NYSE:RF) last issued 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. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. Research analysts predict that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.75%. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

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.