Van ECK Associates Corp Sells 23,013 Shares of Regions Financial Corporation $RF

Van ECK Associates Corp lessened its holdings in shares of Regions Financial Corporation (NYSE:RF) by 67.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,258 shares of the bank’s stock after selling 23,013 shares during the period. Van ECK Associates Corp’s holdings in Regions Financial were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. WPG Advisers LLC boosted its holdings in Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares during the period. Keating Financial Advisory Services Inc. purchased a new stake in Regions Financial in the second quarter worth $25,000. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter worth $25,000. Trust Co. of Vermont bought a new stake in shares of Regions Financial during the second quarter worth $26,000. Finally, SouthState Bank Corp lifted its position in shares of Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

NYSE:RF opened at $30.44 on Friday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The company has a 50-day moving average of $30.89 and a 200 day moving average of $28.80. The firm has a market cap of $25.93 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. As a group, research analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s payout ratio is 48.98%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Citigroup lifted their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Stephens began coverage on shares of Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price on the stock. Truist Financial upped their target price on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.