Abundance Wealth Counselors Invests $1.25 Million in Regions Financial Corporation $RF

Key Points

• Abundance Wealth Counselors has invested $1.25 million in Regions Financial Corporation, acquiring 53,172 shares during the second quarter, as disclosed in their recent SEC filing.
• Regions Financial's latest quarterly earnings report showed an EPS of $0.60, exceeding analyst expectations, with revenues rising 10.1% year-over-year.
• The company announced an increase in its quarterly dividend from $0.25 to $0.265 per share, reflecting a 4.0% dividend yield and a payout ratio of 49.30%.

Abundance Wealth Counselors purchased a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 53,172 shares of the bank's stock, valued at approximately $1,251,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RF. American National Bank & Trust grew its holdings in shares of Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank's stock worth $25,000 after purchasing an additional 1,022 shares during the last quarter. Bayforest Capital Ltd grew its holdings in shares of 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 purchasing an additional 1,058 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Regions Financial during the first quarter worth about $36,000. Grove Bank & Trust grew its holdings in shares of 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 purchasing an additional 814 shares during the last quarter. Finally, Groupe la Francaise bought a new stake in shares of Regions Financial during the first quarter worth about $41,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Price Performance

Regions Financial stock opened at $26.19 on Friday. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.51 and a beta of 1.02. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The stock's 50 day moving average price is $26.34 and its two-hundred day moving average price is $23.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82.

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

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial's payout ratio is currently 49.30%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RF shares. Cantor Fitzgerald started coverage on Regions Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $30.00 price target on the stock. DA Davidson boosted their price target on Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Stephens upped their target price on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Citigroup upped their target price on Regions Financial from $30.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Finally, Evercore ISI upped their target price on Regions Financial from $28.00 to $29.00 and gave the company an "in-line" rating in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.89.

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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.