Lbp Am Sa Sells 343,444 Shares of Regions Financial Corporation $RF

Key Points

• Lbp Am Sa reduced its stake in Regions Financial Corporation (RF) by 48.8%, selling 343,444 shares and leaving it with 359,848 shares valued at approximately $8.46 million.
• Regions Financial reported Q2 earnings of $0.60 per share, exceeding analysts' expectations, with a year-over-year revenue increase of 10.1%.
• The company recently raised its quarterly dividend to $0.265, equating to a 4.0% dividend yield and a payout ratio of 49.30%.

Lbp Am Sa trimmed its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 48.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 359,848 shares of the bank's stock after selling 343,444 shares during the quarter. Lbp Am Sa's holdings in Regions Financial were worth $8,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust raised its holdings in shares of Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank's stock valued at $25,000 after purchasing an additional 1,022 shares during the last quarter. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after purchasing an additional 1,058 shares during the period. Rossby Financial LCC purchased a new stake in Regions Financial during the 1st quarter valued at $36,000. Groupe la Francaise bought a new position in shares of Regions Financial during the 1st quarter valued at $41,000. Finally, Grove Bank & Trust boosted its stake in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after buying an additional 814 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

RF opened at $26.21 on Thursday. The firm has a market cap of $23.38 billion, a P/E ratio of 12.19, a PEG ratio of 1.51 and a beta of 1.02. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a 50 day simple moving average of $26.34 and a two-hundred day simple moving average of $23.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.52 earnings per share. Equities analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.265 dividend. The ex-dividend date was Tuesday, September 2nd. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial's dividend payout ratio (DPR) is currently 49.30%.

Insider Buying and Selling

In related news, Director Roger W. Jenkins bought 4,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the transaction, the director owned 6,383 shares in the company, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the company's 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 transaction, the executive vice president owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

RF has been the subject of a number of research reports. Morgan Stanley set a $32.00 price objective on Regions Financial in a research report on Monday. Keefe, Bruyette & Woods upped their price target on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. DA Davidson increased their price objective 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. Cantor Fitzgerald began coverage on shares of Regions Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $30.00 target price for the company. Finally, Stephens upped their target price on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.89.

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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