Panagora Asset Management Inc. sells 12,876 shares of Regions Financial Co. (NYSE:RF)

Panagora Asset Management Inc. reduced its position in Regions Financial Co. (NYSE:RF – Free Report) by 40.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,951 shares of the bank’s stock after selling 12,876 shares during the period. Holdings of Panagora Asset Management Inc. in Regions Financial were worth $380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Regions Financial during the fourth quarter valued at about $210,379,000. Cincinnati Insurance Co. purchased a new stake in shares of Regions Financial in the first quarter worth approximately $74,606,000. Vanguard Group Inc. grew its position in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP boosted its stake in Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after buying an additional 1,951,026 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Regions Financial in the 1st quarter worth $33,829,000. Hedge funds and other institutional investors own 79.39% of the company’s shares.

The performance of financial actions of the regions

RF opened at $23.00 on Wednesday. The company’s 50-day moving average is $21.40 and its 200-day moving average is $20.07. The company has a market cap of $21.06 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 3.01 and a beta of 1.18. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47. The company has a current ratio of 0.83, a quick ratio of 0.83, and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF – Get Your Free Report ) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 11.5% year over year. On average, equities research analysts predict that Regions Financial Co. will show 2 EPS for the current year.

Regions financial increases dividends

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a dividend of $1.00 on an annualized basis and a yield of 4.35%. Regions Financial’s payout ratio is currently 54.35%.

The Wall Street analyst weighs in

Several equities analysts recently weighed in on the company. Royal Bank of Canada upped their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Bank of America upped their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Truist Financial upped their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Evercore ISI reduced their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Finally, Morgan Stanley upped their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $21.51, according to MarketBeat .

Check out our latest report on RF

Regions Financial Company Profile

(Free Report)

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 provides commercial banking services such as commercial and industrial loans, commercial real estate and real estate loans for investors; equipment leasing financing; warehouse products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, mergers and acquisitions and other advisory services.

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