Vest Financial LLC Increases Stock Holdings in Regions Financial Co. (NYSE:RF)

Vest Financial LLC boosted its position in Regions Financial Co. (NYSE:RF - Free Report) by 26.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,218,820 shares of the bank's stock after buying an additional 254,320 shares during the period. Vest Financial LLC owned approximately 0.13% of Regions Financial worth $24,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank's stock worth $2,281,118,000 after buying an additional 3,119,237 shares during the period. Wellington Management Group LLP raised its stake in Regions Financial by 3.6% in the 4th 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 during the last quarter. Norges Bank acquired a new position in Regions Financial in the 4th quarter valued at $210,379,000. Allspring Global Investments Holdings LLC raised its stake in Regions Financial by 1.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank's stock valued at $162,163,000 after purchasing an additional 103,529 shares during the last quarter. Finally, Cincinnati Insurance Co. acquired a new position in Regions Financial in the 1st quarter valued at $74,606,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RF. StockNews.com downgraded Regions Financial from a "hold" rating to a "sell" rating in a research note on Tuesday, September 3rd. Royal Bank of Canada increased their price target on Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. Citigroup increased their price target on Regions Financial from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Bank of America increased their price target on Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 22nd. Finally, Truist Financial increased their price target on Regions Financial from $21.00 to $23.00 and gave the stock a "hold" rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $21.51.

Regions Financial Stock Down 0.3 %

Shares of NYSE RF traded down $0.07 during midday trading on Thursday, hitting $21.93. 7,585,263 shares of the company's stock were exchanged, compared to its average volume of 8,000,939. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The company has a market cap of $20.08 billion, a PE ratio of 11.96, a P/E/G ratio of 2.84 and a beta of 1.17. The firm's fifty day simple moving average is $21.73 and its 200-day simple moving average is $20.23.

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

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This is a positive change 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 yield of 4.56%. 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.