Ameriprise Financial Inc. Has $80.89 Million Stock Holdings in Regions Financial Corporation $RF

Key Points

• Ameriprise Financial Inc. reduced its stake in Regions Financial Corporation by 11.5%, owning 3,719,306 shares valued at approximately $80.9 million after selling 484,532 shares during the first quarter.
• Regions Financial recently announced a quarterly dividend of $0.265 per share, representing an increase from the previous dividend and translating to a 4.0% yield for shareholders.
• The bank reported an earnings per share (EPS) of $0.60 for the last quarter, surpassing the consensus estimate and marking a 10.1% revenue increase year-over-year.

Ameriprise Financial Inc. cut its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,719,306 shares of the bank's stock after selling 484,532 shares during the quarter. Ameriprise Financial Inc. owned 0.41% of Regions Financial worth $80,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RF. Bayforest Capital Ltd grew its position in shares of Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after purchasing an additional 1,058 shares during the period. Rossby Financial LCC acquired a new position in shares of Regions Financial in the 1st quarter valued at approximately $36,000. Grove Bank & Trust boosted its position in Regions Financial by 76.6% during the 1st 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. boosted its position in 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 acquiring an additional 2,078 shares during the last quarter. Finally, Allworth Financial LP boosted its position in 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 acquiring an additional 786 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Performance

Shares of RF traded up $0.09 during midday trading on Friday, reaching $27.42. 15,961,096 shares of the stock were exchanged, compared to its average volume of 10,461,345. 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 company has a market cap of $24.46 billion, a P/E ratio of 12.75, a PEG ratio of 1.58 and a beta of 1.01. The stock's 50 day simple moving average is $25.13 and its 200 day simple moving average is $22.76.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The company's revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect 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. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.265 per share. This is an increase 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 3.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's payout ratio is 46.51%.

Insiders Place Their Bets

In other news, Director Roger W. Jenkins bought 4,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price 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 $162,638.84. This represents a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David R. Keenan sold 30,000 shares of Regions Financial 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 sale, 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 position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. TD Cowen assumed coverage on Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target for the company. Morgan Stanley increased their price objective on Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. DA Davidson increased their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 21st. Truist Financial reissued a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Finally, Stephens increased their price objective on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Moderate Buy" and a consensus target price 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.