Regions Financial Corporation (NYSE:RF) Shares Purchased by Commerce Bank

Key Points

• Commerce Bank increased its stake in Regions Financial Corporation by 16.6% in the first quarter, now owning 273,032 shares valued at $5.93 million.
• Regions Financial is set to increase its quarterly dividend to $0.265 per share, up from $0.25, resulting in an annualized yield of 4.3%.
• Analysts have given Regions Financial a consensus rating of "Moderate Buy" with a price target averaging $27.33.

Commerce Bank grew its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 16.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,032 shares of the bank's stock after acquiring an additional 38,906 shares during the period. Commerce Bank's holdings in Regions Financial were worth $5,933,000 at the end of the most recent reporting period.

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

Regions Financial Stock Down 0.5%

Shares of NYSE:RF traded down $0.12 during trading hours on Thursday, reaching $24.81. The stock had a trading volume of 435,044 shares, compared to its average volume of 9,741,947. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The firm's 50 day moving average is $23.77 and its 200-day moving average is $22.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.45 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The company's revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. Research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business 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 is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.3%. Regions Financial's payout ratio is 46.51%.

Analysts Set New Price Targets

A number of analysts have recently commented on RF shares. DA Davidson boosted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. TD Cowen began coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target on the stock. Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Cowen initiated coverage on shares of Regions Financial in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of "Moderate Buy" and an average price target 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.