Prudential PLC Has $355,000 Stake in Regions Financial Co. (NYSE:RF)

Prudential PLC lessened its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 81.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,715 shares of the bank's stock after selling 79,820 shares during the quarter. Prudential PLC's holdings in Regions Financial were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC grew its stake in Regions Financial by 13.9% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 23,540 shares of the bank's stock valued at $472,000 after acquiring an additional 2,871 shares in the last quarter. Waddell & Associates LLC lifted its holdings in shares of Regions Financial by 3.5% during the 2nd quarter. Waddell & Associates LLC now owns 31,220 shares of the bank's stock valued at $626,000 after buying an additional 1,057 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Regions Financial by 20.7% during the 2nd quarter. Ballentine Partners LLC now owns 15,337 shares of the bank's stock valued at $307,000 after buying an additional 2,631 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Regions Financial by 37.9% during the 2nd quarter. Caprock Group LLC now owns 18,266 shares of the bank's stock valued at $371,000 after buying an additional 5,020 shares during the last quarter. Finally, Certuity LLC lifted its holdings in shares of Regions Financial by 0.9% during the 2nd quarter. Certuity LLC now owns 102,417 shares of the bank's stock valued at $2,052,000 after buying an additional 908 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

NYSE:RF traded up $0.04 during trading hours on Friday, reaching $21.97. The company had a trading volume of 6,943,462 shares, compared to its average volume of 7,994,964. The stock has a 50-day moving average of $21.82 and a two-hundred day moving average of $20.27. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. The firm has a market capitalization of $20.11 billion, a PE ratio of 11.94, a PEG ratio of 2.82 and a beta of 1.17. 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 announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The business's revenue was down 11.5% compared to the same quarter last year. Analysts forecast that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.55%. 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 dividend payout ratio is 54.35%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Regions Financial from $18.00 to $22.00 and gave the company an "equal weight" rating in a report on Monday, July 22nd. Evercore ISI reduced their target price on Regions Financial from $22.00 to $21.00 and set an "in-line" rating for the company in a report on Tuesday, June 25th. StockNews.com upgraded Regions Financial from a "sell" rating to a "hold" rating in a report on Thursday. Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reduced their target price on Regions Financial from $22.00 to $21.00 and set a "market perform" rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of "Hold" and a consensus target price 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.