National Bank of Canada FI Has $5.02 Million Holdings in Regions Financial Co. (NYSE:RF)

National Bank of Canada FI boosted its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 23.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,317 shares of the bank's stock after purchasing an additional 47,465 shares during the period. National Bank of Canada FI's holdings in Regions Financial were worth $5,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank's stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP grew its stake in Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank's stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares in the last quarter. Norges Bank acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $210,379,000. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank's stock worth $162,163,000 after purchasing an additional 103,529 shares in the last quarter. Finally, Cincinnati Insurance Co. acquired a new stake in shares of Regions Financial in the 1st quarter valued at approximately $74,606,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RF. Royal Bank of Canada upped their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their target price on shares of Regions Financial from $22.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, July 3rd. Evercore ISI lowered their price target 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 cut Regions Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods decreased their target price 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. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Regions Financial currently has an average rating of "Hold" and an average price target of $21.51.

Regions Financial Price Performance

NYSE RF traded down $0.23 during midday trading on Tuesday, hitting $22.32. The company had a trading volume of 8,232,897 shares, compared to its average volume of 7,992,711. The company has a market capitalization of $20.43 billion, a PE ratio of 12.13, a P/E/G ratio of 2.84 and a beta of 1.17. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $21.69 and a 200-day moving average price of $20.22.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) 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 the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business's revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, 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 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. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from Regions Financial's previous quarterly dividend of $0.24. Regions Financial's payout ratio is 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.