1832 Asset Management L.P. Raises Stock Position in Regions Financial Corporation $RF

Key Points

• 1832 Asset Management L.P. increased its stake in Regions Financial Corporation by 17.2%, now owning 84,707 shares valued at approximately $1.84 million.
• Regions Financial announced a quarterly dividend increase, with the new dividend of $0.265 per share, up from $0.25, reflecting a 4.0% yield.
• The bank reported a 10.1% increase in revenue year-over-year, with earnings surpassing analysts' expectations in its latest quarterly results.

1832 Asset Management L.P. boosted its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,707 shares of the bank's stock after buying an additional 12,408 shares during the quarter. 1832 Asset Management L.P.'s holdings in Regions Financial were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after buying an additional 1,058 shares during the period. Rossby Financial LCC acquired a new position in Regions Financial during the first quarter worth about $36,000. Grove Bank & Trust raised its position in Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after acquiring an additional 814 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Regions Financial by 181.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after purchasing an additional 2,078 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Regions Financial by 30.7% during the 1st quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regions Financial

In other news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roger W. Jenkins bought 4,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the purchase, the director owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Regions Financial Trading Up 0.3%

Shares of NYSE RF traded up $0.09 during trading on Friday, hitting $27.42. 15,961,096 shares of the company traded hands, compared to its average volume of 10,461,345. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company has a 50-day moving average price of $25.13 and a 200-day moving average price of $22.76. The firm has a market capitalization of $24.46 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.58 and a beta of 1.01. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the previous year, the company earned $0.52 EPS. The business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio is presently 46.51%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. DA Davidson raised their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Cowen assumed coverage on shares of Regions Financial in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, Morgan Stanley raised their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

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.