iSAM Funds UK Ltd Decreases Stake in Regions Financial Corporation $RF

iSAM Funds UK Ltd lessened its stake in shares of Regions Financial Corporation (NYSE:RF) by 48.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,931 shares of the bank’s stock after selling 39,809 shares during the period. iSAM Funds UK Ltd’s holdings in Regions Financial were worth $1,010,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI lifted 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 buying an additional 15,820 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Regions Financial by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock worth $216,866,000 after purchasing an additional 325,382 shares during the period. Nordea Investment Management AB boosted its holdings in Regions Financial by 4.9% during 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. Foster Victor Wealth Advisors LLC grew its position in Regions Financial by 3.7% during the second quarter. Foster Victor Wealth Advisors LLC now owns 315,402 shares of the bank’s stock valued at $7,768,000 after buying an additional 11,391 shares during the period. Finally, Vise Technologies Inc. purchased a new position in Regions Financial in the second quarter valued at $419,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Up 0.4%

NYSE RF opened at $26.44 on Wednesday. The business has a fifty day moving average price of $24.93 and a 200 day moving average price of $24.89. 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 company has a market cap of $23.18 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.17 and a beta of 1.04. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.60.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The business 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%. Research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on RF. Evercore ISI raised their target price on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Citigroup raised their price objective on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley set a $32.00 target price on Regions Financial in a research note on Monday, September 29th. Cantor Fitzgerald initiated coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, Truist Financial reduced their price objective on shares of Regions Financial from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $27.93.

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.