AEGON ASSET MANAGEMENT UK Plc Acquires New Shares in Regions Financial Corporation $RF

Key Points

• AEGON Asset Management UK Plc bought a new position in Regions Financial in Q1, acquiring 78,200 shares valued at about $2.0 million.
• Regions Financial reported Q1 earnings of $0.62 per share, edging past estimates, while revenue rose 5% year over year to $1.87 billion.
• The bank declared a quarterly dividend of $0.265 per share, equal to an annualized yield of about 3.7%, payable on July 1.

AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 78,200 shares of the bank's stock, valued at approximately $2,043,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its holdings in shares of Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank's stock valued at $416,000 after acquiring an additional 1,278 shares during the period. Woodline Partners LP increased its holdings in shares of Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank's stock worth $1,669,000 after acquiring an additional 22,216 shares during the period. Baird Financial Group Inc. lifted its position in Regions Financial by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank's stock valued at $1,687,000 after purchasing an additional 511 shares during the last quarter. Federated Hermes Inc. lifted its position in Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank's stock valued at $275,000 after purchasing an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank's stock valued at $3,320,000 after purchasing an additional 6,690 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RF shares. Cantor Fitzgerald restated an "overweight" rating and issued a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. DA Davidson lifted their price target on Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a report on Monday, April 20th. Morgan Stanley reduced their price objective on Regions Financial from $37.00 to $34.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Brean Capital started coverage on Regions Financial in a report on Thursday, March 12th. They issued a "neutral" rating for the company. Finally, Truist Financial reissued a "hold" rating and issued a $30.00 price objective on shares of Regions Financial in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $30.73.

Regions Financial Stock Up 0.0%

RF opened at $28.63 on Friday. Regions Financial Corporation has a one year low of $21.99 and a one year high of $31.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The stock's fifty day moving average is $27.99 and its 200-day moving average is $27.76. The company has a market capitalization of $24.43 billion, a PE ratio of 11.93, a P/E/G ratio of 1.09 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The company's revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial's dividend payout ratio is presently 44.17%.

Regions Financial Company Profile

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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