Bank of New York Mellon Corp Raises Holdings in Regions Financial Corporation $RF

Key Points

• Bank of New York Mellon increased its stake in Regions Financial by 2.3% in the first quarter, holding 6.6 million shares worth about $172.7 million at quarter-end.
• Regions Financial beat quarterly earnings estimates, reporting $0.68 per share versus expectations around $0.63, while revenue came in roughly in line at $1.95 billion.
• The company raised its quarterly dividend to $0.30 per share from $0.27, boosting the annualized payout to $1.20 and the dividend yield to 3.8%.

Bank of New York Mellon Corp lifted its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,611,874 shares of the bank's stock after acquiring an additional 151,564 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Regions Financial worth $172,702,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the second quarter valued at about $25,000. SouthState Bank Corp increased its stake in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after purchasing an additional 538 shares in the last quarter. Spire Wealth Management raised its position in shares of Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock valued at $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC raised its position in shares of Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after purchasing an additional 854 shares during the period. Finally, Leonteq Securities AG bought a new stake in shares of Regions Financial in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

NYSE RF opened at $31.67 on Friday. 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 company has a fifty day moving average of $28.95 and a 200-day moving average of $28.24. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a market capitalization of $27.03 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.22 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm's quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is a boost from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial's dividend payout ratio (DPR) is presently 44.17%.

Insiders Place Their Bets

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on 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 can be accessed through this hyperlink. Company insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RF. Jefferies Financial Group reaffirmed a "hold" rating and issued a $32.00 price objective on shares of Regions Financial in a report on Friday. Morgan Stanley boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. JPMorgan Chase & Co. increased their target price on Regions Financial from $29.00 to $31.50 and gave the stock a "neutral" rating in a research report on Monday, July 6th. Piper Sandler cut their price target on Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Finally, Royal Bank Of Canada lifted their price target on Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $31.32.

More Regions Financial News

Here are the key news stories impacting Regions Financial this week:

• Positive Sentiment: Regions Financial beat Q2 earnings expectations, reporting $0.68 per share versus forecasts around $0.63-$0.64, which suggests better-than-expected profitability. Regions Financial (RF) Q2 Earnings Beat Estimates
• Positive Sentiment: Net interest income and lower credit provision helped offset higher expenses, signaling solid underlying banking trends and improving asset quality. Regions Financial Q2 earnings beat on solid NII, lower credit provision
• Positive Sentiment: The company raised its quarterly dividend by 13.2% to $0.30 per share, a sign of management confidence and a shareholder-friendly capital return policy. Regions Financial Corp. Announces 13% Increase in Common Stock Dividend and Declares Preferred Stock Dividends
• Neutral Sentiment: Revenue was slightly below expectations, which tempers the earnings beat and suggests some top-line pressure remains. Regions Financial Q2 Earnings Beat Estimates, NII, Expenses Up Y/Y

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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