Bank of New Hampshire Has $92,000 Stock Holdings in Regions Financial Co. (NYSE:RF)

Bank of New Hampshire lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 38.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,607 shares of the bank’s stock after selling 2,871 shares during the quarter. Bank of New Hampshire’s holdings in Regions Financial were worth $92,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Regions Financial by 2.7% in the fourth 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 boosted its position in shares of Regions Financial by 3.6% in 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 acquiring an additional 1,951,026 shares during the period. Norges Bank bought a new stake in shares of Regions Financial in the fourth quarter valued at approximately $210,379,000. Allspring Global Investments Holdings LLC lifted its position 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 worth $162,163,000 after purchasing an additional 103,529 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Regions Financial by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock worth $70,952,000 after purchasing an additional 606,647 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE:RF traded down $0.66 during midday trading on Friday, reaching $20.88. The company’s stock had a trading volume of 8,259,515 shares, compared to its average volume of 9,299,469. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.88. The company has a market capitalization of $19.11 billion, a P/E ratio of 11.35, a P/E/G ratio of 2.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The business’s fifty day simple moving average is $20.08 and its 200-day simple moving average is $19.55.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating 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 company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, equities research analysts expect that Regions Financial Co. will post 2 EPS 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. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.79%. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Analyst Upgrades and Downgrades

RF has been the subject of several research reports. Wells Fargo & Company raised their target price on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Evercore ISI reduced their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley raised their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their target price on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Bank of America raised their target price on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus price target of $21.51.

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.