Intech Investment Management LLC Has $3.11 Million Stock Holdings in Regions Financial Corporation $RF

Key Points

• Intech Investment Management LLC has reduced its stake in Regions Financial Corporation by 13.6% in the first quarter, holding 143,315 shares valued at $3.11 million.
• Regions Financial announced a quarterly dividend increase to $0.265, reflecting a yield of 3.9%, payable on October 1st to shareholders of record on September 2nd.
• Regions Financial's stock price recently opened at $27.19, showing a 0.6% increase, with strong earnings reported—$0.60 EPS, beating expectations of $0.56.

Intech Investment Management LLC decreased its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 13.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,315 shares of the bank's stock after selling 22,564 shares during the quarter. Intech Investment Management LLC's holdings in Regions Financial were worth $3,114,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bayforest Capital Ltd lifted its holdings in shares of Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Regions Financial during the first quarter worth $36,000. Grove Bank & Trust lifted its holdings in shares of 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 buying an additional 814 shares in the last quarter. Groupe la Francaise acquired a new stake in shares of Regions Financial during the first quarter worth $41,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Regions Financial during the first quarter worth $58,000. 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 Regions Financial stock in a transaction dated 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 owned 90,915 shares in the company, valued at $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roger W. Jenkins bought 4,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the transaction, the director owned 6,383 shares of the company's stock, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Regions Financial Stock Up 0.6%

Shares of NYSE RF opened at $27.19 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The stock has a market capitalization of $24.26 billion, a P/E ratio of 12.65, a PEG ratio of 1.55 and a beta of 1.02. The stock's fifty day moving average is $25.91 and its 200 day moving average is $22.99.

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

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.265 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is presently 49.30%.

Analysts Set New Price Targets

RF has been the subject of a number of research reports. DA Davidson lifted their target price on Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Barclays reissued an "underweight" rating and set a $27.00 target price (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Truist Financial reissued a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Jefferies Financial Group initiated coverage on Regions Financial in a report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. Finally, Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Twelve research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $27.47.

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.

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