Franklin Resources Inc. Raises Stock Holdings in Regions Financial Co. (NYSE:RF)

Franklin Resources Inc. grew its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 829,399 shares of the bank's stock after buying an additional 126,772 shares during the period. Franklin Resources Inc. owned 0.09% of Regions Financial worth $19,507,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Regions Financial during the fourth quarter valued at about $279,103,000. National Bank of Canada FI grew its position in shares of Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank's stock worth $39,784,000 after purchasing an additional 1,452,956 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the period. Raymond James Financial Inc. purchased a new position in Regions Financial in the 4th quarter worth approximately $31,480,000. Finally, Allianz Asset Management GmbH boosted its stake in Regions Financial by 247.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank's stock worth $40,891,000 after purchasing an additional 1,237,538 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders bought 3,868 shares of company stock worth $86,722. Company insiders own 0.29% of the company's stock.

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Regions Financial Trading Down 0.2 %

Regions Financial stock traded down $0.04 during mid-day trading on Friday, hitting $18.96. The company's stock had a trading volume of 13,080,597 shares, compared to its average volume of 8,102,368. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The company has a 50 day moving average of $22.10 and a 200-day moving average of $23.69. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The stock has a market cap of $17.17 billion, a PE ratio of 9.77, a P/E/G ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial's dividend payout ratio is presently 51.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Citigroup cut their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Truist Financial cut their price target on Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $26.42.

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.