IFM Investors Pty Ltd Acquires 11,449 Shares of Regions Financial Corporation $RF

Key Points

• IFM Investors Pty Ltd has increased its holdings in Regions Financial Corporation by 6.4%, now owning 191,731 shares valued at approximately $4.51 million.
• The bank has announced a quarterly dividend increase from $0.25 to $0.265 per share, resulting in an annualized yield of 3.9%.
• Regions Financial's stock has a moderate buy rating from analysts, with a consensus target price raised to $27.47.

IFM Investors Pty Ltd lifted its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 191,731 shares of the bank's stock after purchasing an additional 11,449 shares during the quarter. IFM Investors Pty Ltd's holdings in Regions Financial were worth $4,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RF. Invesco Ltd. raised its position in shares of Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock worth $456,122,000 after purchasing an additional 5,521,772 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Regions Financial during the first quarter worth approximately $53,018,000. Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock valued at $675,645,000 after purchasing an additional 1,909,162 shares during the last quarter. Amundi lifted its holdings in Regions Financial by 20.4% in the 1st quarter. Amundi now owns 10,010,267 shares of the bank's stock valued at $198,721,000 after purchasing an additional 1,696,347 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Regions Financial by 3.7% during the 1st quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock valued at $960,717,000 after acquiring an additional 1,562,512 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were 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 $2,273,784.15. This represents a 24.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger W. Jenkins purchased 4,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the transaction, the director directly owned 6,383 shares in the company, valued at $162,638.84. This represents a 167.86% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Regions Financial Price Performance

NYSE:RF traded down $0.59 during mid-day trading on Monday, reaching $26.57. 18,541,639 shares of the stock were exchanged, compared to its average volume of 18,628,070. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year 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 business has a fifty day moving average price of $26.17 and a 200 day moving average price of $23.17. The firm has a market capitalization of $23.71 billion, a PE ratio of 12.36, a PEG ratio of 1.56 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. Research analysts expect that Regions Financial Corporation will post 2.26 earnings per share 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. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio (DPR) is currently 49.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RF shares. Keefe, Bruyette & Woods upped their price target on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Citigroup lifted 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. Stephens boosted their price objective on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, DA Davidson raised their price target on Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.47.

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.