Regions Financial Co. (NYSE:RF) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lowered its stake in Regions Financial Co. (NYSE:RF) by 2.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 40,600 shares of the bank’s stock after selling 900 shares during the quarter. Highland Capital Management LLC’s holdings in Regions Financial were worth $814,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Regions Financial during the fourth quarter valued at $210,379,000. Cincinnati Insurance Co. purchased a new stake in shares of Regions Financial during the first quarter worth about $74,606,000. Vanguard Group Inc. raised its position in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 valued at $1,080,928,000 after buying an additional 1,951,026 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Regions Financial in the 1st quarter worth about $33,829,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Up 2.9 %

Shares of Regions Financial stock traded up $0.65 during mid-day trading on Friday, hitting $22.81. The stock had a trading volume of 10,817,689 shares, compared to its average volume of 8,055,935. The firm has a market cap of $20.89 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. 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 firm has a 50-day moving average of $20.83 and a two-hundred day moving average of $19.83. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $22.99.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Sell-side analysts forecast that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.38%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is 54.35%.

Analyst Ratings Changes

Several research firms have commented on RF. Citigroup boosted their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Evercore ISI reduced their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Truist Financial lifted their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Morgan Stanley increased their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Bank of America boosted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.51.

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.