LSV Asset Management Sells 1,080,224 Shares of Regions Financial Co. (NYSE:RF)

LSV Asset Management decreased its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,313,391 shares of the bank's stock after selling 1,080,224 shares during the quarter. LSV Asset Management owned approximately 1.24% of Regions Financial worth $226,720,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RF. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial during the first quarter worth about $26,000. MV Capital Management Inc. raised its holdings in shares of Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank's stock worth $30,000 after acquiring an additional 618 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Regions Financial during the fourth quarter worth about $28,000. Whittier Trust Co. of Nevada Inc. raised its stake in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Regions Financial in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Down 1.9 %

Shares of Regions Financial stock traded down $0.44 on Friday, hitting $22.17. 8,837,397 shares of the company traded hands, compared to its average volume of 7,999,071. Regions Financial Co. has a 12-month low of $13.72 and a 12-month 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. The company has a market cap of $20.30 billion, a PE ratio of 12.05, a PEG ratio of 3.01 and a beta of 1.17. The company has a 50-day moving average price of $21.59 and a 200 day moving average price of $20.16.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.03. The company 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%. The company's quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. Sell-side analysts predict that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.51%. This is a positive change from Regions Financial's previous quarterly dividend of $0.24. Regions Financial's dividend payout ratio is currently 54.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the company an "equal weight" rating in a research report on Monday, July 22nd. Evercore ISI dropped their target price on Regions Financial from $22.00 to $21.00 and set an "in-line" rating on the stock in a research report on Tuesday, June 25th. StockNews.com downgraded Regions Financial from a "hold" rating to a "sell" rating in a report on Tuesday, September 3rd. 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 report on Tuesday, July 9th. Finally, Truist Financial raised their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock a "hold" rating in a research 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.51.

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.