Swedbank AB Has $21.11 Million Stock Position in Regions Financial Co. (NYSE:RF)

Swedbank AB lessened its position in shares of Regions Financial Co. (NYSE:RF) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 904,671 shares of the bank’s stock after selling 1,686 shares during the quarter. Swedbank AB’s holdings in Regions Financial were worth $21,106,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Regions Financial by 1.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after acquiring an additional 103,529 shares during the last quarter. Cincinnati Insurance Co. bought a new position in Regions Financial in the first quarter valued at approximately $74,606,000. Victory Capital Management Inc. grew its holdings in Regions Financial by 17.1% during the 2nd 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 period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Regions Financial by 6.5% during 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 acquiring an additional 171,280 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $23.99 on Thursday. The firm has a market cap of $21.97 billion, a PE ratio of 13.04, a P/E/G ratio of 2.80 and a beta of 1.17. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $24.33. The company’s fifty day simple moving average is $22.52 and its 200-day simple moving average is $20.83. 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) last released its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. Equities research analysts expect that Regions Financial Co. will post 2.02 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.17%. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Jefferies Financial Group upped their price target on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Morgan Stanley lifted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Bank of America upped their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Truist Financial lifted their price target on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average target price of $22.86.

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.