Principal Financial Group Inc. Has $21.11 Million Stock Position in Regions Financial Co. (NYSE:RF)

Principal Financial Group Inc. decreased its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,053,572 shares of the bank's stock after selling 31,657 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Regions Financial worth $21,114,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Regions Financial by 2.5% during the 2nd quarter. UMB Bank n.a. now owns 616,804 shares of the bank's stock worth $12,361,000 after buying an additional 15,147 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Regions Financial in the 2nd quarter valued at $32,000. Arkadios Wealth Advisors acquired a new position in shares of Regions Financial in the 2nd quarter valued at $202,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after purchasing an additional 1,256 shares during the period. Finally, HB Wealth Management LLC lifted its stake in shares of Regions Financial by 1.5% in the 2nd quarter. HB Wealth Management LLC now owns 98,149 shares of the bank's stock valued at $1,967,000 after purchasing an additional 1,429 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on RF shares. Keefe, Bruyette & Woods dropped their price objective on Regions Financial from $22.00 to $21.00 and set a "market perform" rating on the stock in a research note on Tuesday, July 9th. Citigroup raised their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Evercore ISI dropped their price objective on Regions Financial from $22.00 to $21.00 and set an "in-line" rating on the stock in a research note on Tuesday, June 25th. Bank of America raised 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. Finally, Jefferies Financial Group raised their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $21.51.

Regions Financial Price Performance

Shares of NYSE RF traded down $0.17 during midday trading on Wednesday, reaching $22.83. 6,408,712 shares of the company were exchanged, compared to its average volume of 8,002,526. The stock's 50-day moving average price is $21.40 and its 200-day moving average price is $20.07. The stock has a market cap of $20.91 billion, a P/E ratio of 12.31, a PEG ratio of 3.01 and a beta of 1.18. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF - Get Free Report) last posted its 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. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company's revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.38%. Regions Financial's payout ratio is currently 54.35%.

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.