abrdn plc Sells 153,158 Shares of Regions Financial Co. (NYSE:RF)

abrdn plc lowered its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,451,237 shares of the bank's stock after selling 153,158 shares during the quarter. abrdn plc owned about 0.27% of Regions Financial worth $56,930,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock worth $285,562,000 after buying an additional 979,597 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock worth $201,238,000 after purchasing an additional 1,014,706 shares during the period. Cincinnati Insurance Co. bought a new position in shares of Regions Financial in the first quarter worth about $74,606,000. Victory Capital Management Inc. lifted its holdings in shares of Regions Financial by 17.1% in the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank's stock worth $59,421,000 after acquiring an additional 433,319 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Regions Financial by 6.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,822,420 shares of the bank's stock valued at $59,384,000 after purchasing an additional 171,280 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Analyst Ratings Changes

RF has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, July 3rd. Wedbush upped their target price on Regions Financial from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Morgan Stanley lifted their price target on Regions Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on Regions Financial from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Regions Financial has an average rating of "Hold" and a consensus target price of $25.06.

Regions Financial Stock Up 0.8 %

Shares of RF stock traded up $0.19 on Wednesday, reaching $24.06. 7,778,778 shares of the company were exchanged, compared to its average volume of 7,926,102. Regions Financial Co. has a one year low of $14.27 and a one year high of $24.47. The company has a market cap of $22.03 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 2.54 and a beta of 1.17. The company has a 50-day moving average of $22.99 and a 200-day moving average of $21.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business posted $0.49 EPS. The company's revenue was down 3.7% on a year-over-year basis. Analysts anticipate that Regions Financial Co. will post 2.05 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 4.16%. Regions Financial's payout ratio is 54.35%.

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.