Regions Financial Co. (NYSE:RF) Stock Holdings Reduced by Bank of New Hampshire

Bank of New Hampshire lowered its stake in Regions Financial Co. (NYSE:RF) by 6.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 66,885 shares of the bank’s stock after selling 4,860 shares during the quarter. Bank of New Hampshire’s holdings in Regions Financial were worth $1,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Regions Financial by 2.7% during the 3rd 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 lifted its position in shares of Regions Financial by 8.4% during the 3rd 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. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after purchasing an additional 618,384 shares during the last quarter. Invesco Ltd. lifted its position in shares of Regions Financial by 15.1% during the 3rd quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock worth $190,682,000 after purchasing an additional 1,455,499 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Regions Financial by 13.4% during the 3rd quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock worth $185,099,000 after purchasing an additional 1,268,045 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Evercore ISI increased their price target on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Piper Sandler increased their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday. Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Royal Bank of Canada increased their price target on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.34.

Regions Financial Trading Up 0.9 %

Regions Financial stock traded up $0.17 during mid-day trading on Friday, hitting $19.78. 1,839,875 shares of the company’s stock were exchanged, compared to its average volume of 8,746,859. The firm has a market capitalization of $18.18 billion, a P/E ratio of 10.81, a PEG ratio of 1.45 and a beta of 1.21. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. 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’s 50 day simple moving average is $19.41 and its 200-day simple moving average is $18.07.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. On average, equities analysts anticipate that Regions Financial Co. will post 1.95 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Insiders Place Their Bets

In other news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.