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) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,313,391 shares of the bank’s stock after selling 1,080,224 shares during the period. LSV Asset Management owned about 1.24% of Regions Financial worth $226,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IFG Advisory LLC raised its position in Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares during the period. HB Wealth Management LLC raised its position in Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after acquiring an additional 551 shares during the period. CWM LLC raised its position in Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after acquiring an additional 556 shares during the period. Perigon Wealth Management LLC raised its position in Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after acquiring an additional 565 shares during the period. Finally, Signet Financial Management LLC raised its position in Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after acquiring an additional 584 shares during the period. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RF shares. Truist Financial increased 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. Citigroup increased their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Evercore ISI reduced their price objective on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial currently has an average rating of “Hold” and an average target price of $21.51.

Regions Financial Price Performance

Shares of NYSE:RF traded down $0.44 on Friday, reaching $22.17. The company’s stock had a trading volume of 8,837,397 shares, compared to its average volume of 7,999,071. The company has a 50-day simple moving average of $21.59 and a 200 day simple moving average of $20.15. The company has a market cap of $20.30 billion, a P/E ratio of 12.05, a PEG ratio of 3.01 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $23.47.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion during 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 business’s revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.59 EPS. As a group, equities research analysts anticipate that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date 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 (DPR) 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.