Andra AP fonden Sells 111,800 Shares of Regions Financial Co. (NYSE:RF)

Andra AP fonden decreased its position in shares of Regions Financial Co. (NYSE:RF) by 20.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 443,300 shares of the bank’s stock after selling 111,800 shares during the period. Andra AP fonden’s holdings in Regions Financial were worth $8,884,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RF. Private Advisor Group LLC boosted its stake in shares of Regions Financial by 7.7% during the fourth quarter. Private Advisor Group LLC now owns 40,089 shares of the bank’s stock valued at $777,000 after purchasing an additional 2,864 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of Regions Financial during the fourth quarter valued at $226,000. Principal Securities Inc. purchased a new stake in shares of Regions Financial during the fourth quarter valued at $92,000. BNP Paribas Financial Markets boosted its stake in shares of Regions Financial by 52.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,012,651 shares of the bank’s stock valued at $19,625,000 after purchasing an additional 348,636 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of Regions Financial by 8.1% during the fourth quarter. QRG Capital Management Inc. now owns 99,012 shares of the bank’s stock valued at $1,919,000 after purchasing an additional 7,459 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

RF opened at $22.00 on Thursday. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $23.47. 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 company has a market cap of $20.15 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. The firm’s 50-day moving average price is $21.73 and its 200-day moving average price is $20.23.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.55%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is 54.35%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial upped their price objective 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. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. Citigroup upped their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley upped their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and an average price target of $21.51.

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.