HighTower Advisors LLC Has $8.40 Million Stake in Regions Financial Corporation $RF

Key Points

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HighTower Advisors LLC raised its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 80.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 386,362 shares of the bank's stock after purchasing an additional 172,385 shares during the quarter. HighTower Advisors LLC's holdings in Regions Financial were worth $8,396,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RF. Rockefeller Capital Management L.P. raised its position in Regions Financial by 12.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 55,499 shares of the bank's stock valued at $1,303,000 after purchasing an additional 6,010 shares during the last quarter. Mariner LLC raised its position in Regions Financial by 11.1% in the 4th quarter. Mariner LLC now owns 147,721 shares of the bank's stock valued at $3,474,000 after purchasing an additional 14,760 shares during the last quarter. NewEdge Advisors LLC raised its position in Regions Financial by 14.5% in the 4th quarter. NewEdge Advisors LLC now owns 106,637 shares of the bank's stock valued at $2,508,000 after purchasing an additional 13,538 shares during the last quarter. Marshall Wace LLP raised its position in Regions Financial by 1,862.9% in the 4th quarter. Marshall Wace LLP now owns 692,502 shares of the bank's stock valued at $16,288,000 after purchasing an additional 657,222 shares during the last quarter. Finally, GeoWealth Management LLC raised its position in shares of Regions Financial by 84.5% during the fourth quarter. GeoWealth Management LLC now owns 17,622 shares of the bank's stock worth $414,000 after acquiring an additional 8,070 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $750,300.00. Following the completion of the sale, the executive vice president directly owned 90,915 shares of the company's stock, valued at $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger W. Jenkins acquired 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of 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. 0.29% of the stock is owned by insiders.

Regions Financial Trading Up 4.0%

Shares of Regions Financial stock traded up $1.02 during trading on Friday, reaching $26.76. 17,468,627 shares of the company were exchanged, compared to its average volume of 10,189,258. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The business has a 50-day moving average price of $24.59 and a 200-day moving average price of $22.67. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.49 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The bank reported $0.60 EPS 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 business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's payout ratio is presently 46.51%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RF. Cowen began coverage on Regions Financial in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Jefferies Financial Group began coverage on Regions Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. Stephens boosted their target price on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Citigroup boosted their target price on Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Regions Financial Company 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.