Bahl & Gaynor Inc. Sells 105,348 Shares of Regions Financial Corporation $RF

Key Points

• Bahl & Gaynor Inc. significantly reduced its holdings in Regions Financial Corporation by 60.9%, owning 67,732 shares worth approximately $1.47 million after selling 105,348 shares in the first quarter.
• Regions Financial recently declared a quarterly dividend of $0.265 per share, up from the previous $0.25, reflecting an annualized yield of 4.0%.
• Brokerages have raised their target prices for Regions Financial, with Citigroup and Keefe, Bruyette & Woods both setting a target of $30.00, indicating strong optimism in the stock's performance.

Bahl & Gaynor Inc. lessened its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 60.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,732 shares of the bank's stock after selling 105,348 shares during the quarter. Bahl & Gaynor Inc.'s holdings in Regions Financial were worth $1,472,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RF. Foster Victor Wealth Advisors LLC raised its stake in shares of Regions Financial by 5.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock worth $6,606,000 after purchasing an additional 15,652 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Regions Financial by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock worth $52,762,000 after purchasing an additional 21,169 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Regions Financial by 13.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock valued at $3,424,000 after purchasing an additional 18,684 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of Regions Financial by 62.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock valued at $440,000 after purchasing an additional 7,822 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in Regions Financial in the first quarter worth $272,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

NYSE RF traded up $0.06 during midday trading on Friday, hitting $27.39. The company had a trading volume of 12,267,388 shares, compared to its average volume of 10,434,108. The firm has a fifty day simple moving average of $25.13 and a two-hundred day simple moving average of $22.76. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week 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 stock has a market cap of $24.44 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.58 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results 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. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm's revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This is a boost 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 is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent analyst reports. Cowen began coverage on Regions Financial in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. DA Davidson lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Barclays reaffirmed an "underweight" rating and set a $27.00 price objective (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Stephens raised their target price on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Insiders Place Their Bets

In other news, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger W. Jenkins bought 4,000 shares of the stock in a transaction that occurred on 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 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. Corporate insiders own 0.29% of the company's stock.

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.