National Pension Service Increases Stake in Regions Financial Corporation $RF

National Pension Service lifted its position in Regions Financial Corporation (NYSE:RF) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,681,337 shares of the bank’s stock after acquiring an additional 10,141 shares during the quarter. National Pension Service owned 0.19% of Regions Financial worth $39,545,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RF. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Regions Financial by 34.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after purchasing an additional 15,820 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Regions Financial by 6.6% during the first quarter. Benjamin Edwards Inc. now owns 342,263 shares of the bank’s stock valued at $7,437,000 after buying an additional 21,068 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Regions Financial by 3.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock worth $216,866,000 after buying an additional 325,382 shares in the last quarter. Nordea Investment Management AB raised its stake in Regions Financial by 4.9% in the second quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock worth $9,913,000 after buying an additional 19,579 shares in the last quarter. Finally, United Bank purchased a new stake in Regions Financial during the first quarter worth $227,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Price Performance

Shares of NYSE RF opened at $24.95 on Friday. 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 market cap of $21.87 billion, a PE ratio of 10.99, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. The business has a 50-day simple moving average of $25.44 and a two-hundred day simple moving average of $24.39.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The firm had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. As a group, equities analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio is presently 46.70%.

Analyst Upgrades and Downgrades

RF has been the topic of a number of analyst reports. Truist Financial cut their price target on Regions Financial from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Monday, October 20th. Morgan Stanley set a $32.00 target price on Regions Financial in a research note on Monday, September 29th. DA Davidson boosted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods raised their price target on shares of Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Barclays reaffirmed an “underweight” rating and issued a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.19.

Regions Financial 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.