AG2R LA Mondiale Gestion D Actifs Purchases New Shares in Regions Financial Corporation $RF

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new position in Regions Financial Corporation, purchasing 40,079 shares valued at approximately $859,000 during the first quarter.
• Regions Financial recently increased its quarterly dividend from $0.25 to $0.265 per share, resulting in an annualized yield of 3.9%.
• Analysts remain optimistic, with a consensus rating of "Moderate Buy" for Regions Financial and an average target price of $27.47, reflecting positive sentiment about the company's future growth.

AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,079 shares of the bank's stock, valued at approximately $859,000.

Several other institutional investors have also bought and sold shares of RF. Invesco Ltd. lifted its holdings in Regions Financial by 35.7% in the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock worth $456,122,000 after purchasing an additional 5,521,772 shares during the period. Nuveen LLC acquired a new stake in Regions Financial in the first quarter worth about $53,018,000. Charles Schwab Investment Management Inc. lifted its holdings in Regions Financial by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock worth $675,645,000 after purchasing an additional 1,909,162 shares during the period. Amundi lifted its holdings in Regions Financial by 20.4% in the first quarter. Amundi now owns 10,010,267 shares of the bank's stock worth $198,721,000 after purchasing an additional 1,696,347 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Regions Financial by 3.7% in the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock worth $960,717,000 after purchasing an additional 1,562,512 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

RF stock traded down $0.16 during midday trading on Friday, hitting $27.24. 4,953,962 shares of the company traded hands, compared to its average volume of 11,028,764. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. The business has a 50 day simple moving average of $26.09 and a 200-day simple moving average of $23.09. The stock has a market capitalization of $24.30 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during 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%.Regions Financial'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 earnings per share. As a group, equities research 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 will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.9%. This is an increase from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is 49.30%.

Insider Buying and Selling at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares of the company's stock, valued at $2,273,784.15. This trade 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 hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares of the company's stock, 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 company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Barclays reissued an "underweight" rating and issued a $27.00 price target (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. DA Davidson upped their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 21st. Citigroup upped their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Truist Financial reissued a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.47.

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.