Invesco Ltd. Reduces Stock Holdings in Regions Financial Corporation $RF

Invesco Ltd. trimmed its position in shares of Regions Financial Corporation (NYSE:RF) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,095,241 shares of the bank’s stock after selling 895,205 shares during the period. Invesco Ltd. owned 2.25% of Regions Financial worth $472,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its stake in Regions Financial by 34.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock worth $1,444,000 after purchasing an additional 15,820 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Regions Financial by 6.6% in the first quarter. Benjamin Edwards Inc. now owns 342,263 shares of the bank’s stock worth $7,437,000 after buying an additional 21,068 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 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 valued at $216,866,000 after acquiring an additional 325,382 shares during the period. Nordea Investment Management AB grew its stake in Regions Financial by 4.9% during the second quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock valued at $9,913,000 after acquiring an additional 19,579 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its holdings in Regions Financial by 3.7% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 315,402 shares of the bank’s stock worth $7,768,000 after acquiring an additional 11,391 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RF has been the subject of several research analyst reports. Truist Financial dropped their price target on Regions Financial from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Monday, October 20th. Morgan Stanley set a $32.00 target price on Regions Financial in a research report on Monday, September 29th. Citigroup increased their price target on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Stephens reissued an “equal weight” rating and set a $27.00 price target (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Finally, Cantor Fitzgerald began coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average price target of $28.13.

Regions Financial Trading Up 0.8%

Regions Financial stock opened at $26.42 on Friday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.60. The firm’s 50 day moving average price is $24.94 and its 200-day moving average price is $24.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market cap of $23.16 billion, a P/E ratio of 11.64, a PEG ratio of 1.16 and a beta of 1.04.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The company 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%. On average, equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, December 1st. Regions Financial’s payout ratio is currently 46.70%.

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.