Element Capital Management LLC Invests $2.67 Million in Regions Financial Corporation $RF

Key Points

• Element Capital Management LLC invested approximately $2.67 million in Regions Financial Corporation, acquiring 122,629 shares in the first quarter of the year.
• Regions Financial recently reported earnings of $0.60 per share, surpassing expectations and reflecting a 10.1% increase in quarterly revenue year-over-year.
• The company announced an increase in its quarterly dividend from $0.25 to $0.265, resulting in a yield of 4.1% for investors.

Element Capital Management LLC acquired a new stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 122,629 shares of the bank's stock, valued at approximately $2,665,000.

Other large investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd boosted its stake in Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after buying an additional 1,058 shares during the period. Rossby Financial LCC bought a new stake in Regions Financial during the first quarter worth about $36,000. Grove Bank & Trust lifted its stake in Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares during the last quarter. Allworth Financial LP lifted its stake in Regions Financial by 30.7% during the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in Regions Financial by 181.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after purchasing an additional 2,078 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 0.0%

RF stock traded up $0.0050 during midday trading on Tuesday, hitting $25.6950. The company's stock had a trading volume of 15,775,992 shares, compared to its average volume of 10,083,700. The company has a market cap of $22.93 billion, a PE ratio of 11.95, a P/E/G ratio of 1.47 and a beta of 1.01. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The firm's 50-day moving average is $24.38 and its 200-day moving average is $22.62.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly 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. The firm had revenue of $1.91 billion for 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%.The company's revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities research analysts forecast 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 issued a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.1%. This is an increase from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's payout ratio is 46.51%.

Wall Street Analysts Forecast Growth

RF has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Regions Financial in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target for the company. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Citigroup boosted their target price on Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley boosted their target price on Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Finally, Stephens boosted their target price on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $27.33.

Insiders Place Their Bets

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 transaction, the executive vice president directly owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger W. Jenkins bought 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares in the company, valued at $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 currently owned by company insiders.

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.