Regions Financial Co. (NYSE:RF) Position Increased by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in Regions Financial Co. (NYSE:RF - Free Report) by 30.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 702,627 shares of the bank's stock after buying an additional 165,710 shares during the quarter. Franklin Resources Inc. owned 0.08% of Regions Financial worth $16,758,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RF. State Street Corp grew its position in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank's stock worth $1,306,813,000 after buying an additional 7,791,399 shares in the last quarter. National Bank of Canada FI grew its holdings in Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank's stock worth $39,784,000 after acquiring an additional 1,452,956 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock worth $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock valued at $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank's stock worth $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Price Performance

RF stock traded up $0.60 during trading on Friday, hitting $23.77. The company had a trading volume of 29,359,053 shares, compared to its average volume of 7,971,927. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 2.64 and a beta of 1.19. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $25.20 and a 200 day moving average of $22.68. Regions Financial Co. has a fifty-two week low of $17.42 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The company's revenue was down 3.7% on a year-over-year basis. As a group, research analysts predict that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's dividend payout ratio is presently 56.50%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a research note on Monday, October 21st. Piper Sandler raised their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research note on Friday, October 25th. Evercore ISI lifted their price target on shares of Regions Financial from $24.50 to $26.00 and gave the company an "in-line" rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a "hold" rating to a "buy" rating and boosted their price objective for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial presently has an average rating of "Moderate Buy" and a consensus price target of $27.61.

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.