Epoch Investment Partners Inc. Decreases Stake in Regions Financial Co. (NYSE:RF)

Epoch Investment Partners Inc. decreased its position in Regions Financial Co. (NYSE:RF) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,621,471 shares of the bank’s stock after selling 344,839 shares during the period. Epoch Investment Partners Inc. owned 0.29% of Regions Financial worth $55,156,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RF. Vanguard Group Inc. grew its position in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares during the period. Wellington Management Group LLP grew its position in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after acquiring an additional 1,951,026 shares during the period. Norges Bank bought a new position in shares of Regions Financial during the 4th quarter valued at approximately $210,379,000. Allspring Global Investments Holdings LLC grew its position in shares of Regions Financial by 1.4% during the 1st 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 period. Finally, Victory Capital Management Inc. grew its position in shares of Regions Financial by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock valued at $70,952,000 after acquiring an additional 606,647 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RF. Bank of America increased their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company raised their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Truist Financial raised their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, Piper Sandler raised their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus target price of $21.32.

Insider Buying and Selling

In related news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Regions Financial Price Performance

Shares of Regions Financial stock traded up $0.21 on Friday, hitting $22.76. 7,329,041 shares of the company traded hands, compared to its average volume of 9,182,820. The firm’s 50-day simple moving average is $19.83 and its 200 day simple moving average is $19.42. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market cap of $20.83 billion, a P/E ratio of 12.37, a P/E/G ratio of 2.93 and a beta of 1.18. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $22.85.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. Analysts expect that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Regions Financial Company 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.