Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in Regions Financial Co. (NYSE:RF)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 2.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 476,184 shares of the bank's stock after selling 12,498 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Regions Financial worth $9,543,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in Regions Financial by 1,620.5% in the fourth quarter. International Assets Investment Management LLC now owns 93,818 shares of the bank's stock worth $1,818,000 after purchasing an additional 88,365 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Regions Financial by 23.6% during the 4th quarter. Federated Hermes Inc. now owns 8,681 shares of the bank's stock worth $168,000 after buying an additional 1,659 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Regions Financial by 1.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 135,407 shares of the bank's stock valued at $2,624,000 after buying an additional 1,784 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Regions Financial by 228.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,541 shares of the bank's stock valued at $49,000 after acquiring an additional 1,767 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Regions Financial by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank's stock worth $70,952,000 after acquiring an additional 606,647 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RF has been the subject of a number of recent research reports. StockNews.com downgraded shares of Regions Financial from a "hold" rating to a "sell" rating in a research note on Friday, August 23rd. Bank of America upped their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Jefferies Financial Group lifted their target price on Regions Financial from $22.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, July 3rd. Royal Bank of Canada boosted their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. Finally, Truist Financial raised their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company a "hold" rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $21.51.

Regions Financial Price Performance

NYSE RF traded up $0.23 during mid-day trading on Thursday, hitting $23.21. The stock had a trading volume of 5,313,525 shares, compared to its average volume of 7,989,895. The firm's 50 day moving average is $21.15 and its 200 day moving average is $19.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $21.26 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.77 and a beta of 1.18. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.39.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial's quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. Equities research analysts forecast that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Regions Financial's previous quarterly dividend of $0.24. Regions Financial's payout ratio is currently 54.35%.

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.

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