Logan Capital Management Inc. Has $3.39 Million Position in Regions Financial Corporation $RF

Key Points

• Logan Capital Management Inc. increased its stake in Regions Financial Corporation by 17.9%, holding 155,797 shares valued at approximately $3.39 million as of the latest SEC filing.
• Regions Financial recently declared a quarterly dividend of $0.265 per share, up from the previous $0.25, reflecting a yield of 4.0%.
• The company reported a 10.1% year-over-year revenue growth of $1.91 billion for the quarter, with earnings per share of $0.60, exceeding analysts' expectations of $0.56.

Logan Capital Management Inc. lifted its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,797 shares of the bank's stock after acquiring an additional 23,697 shares during the quarter. Logan Capital Management Inc.'s holdings in Regions Financial were worth $3,385,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% in 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 during the last quarter. Rossby Financial LCC purchased a new position in Regions Financial during the 1st quarter worth approximately $36,000. Groupe la Francaise purchased a new position in Regions Financial during the 1st quarter worth approximately $41,000. Grove Bank & Trust grew its position in Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares in the last quarter. Finally, Wealth Preservation Advisors LLC purchased a new position in Regions Financial during the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Activity

In other news, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were 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 in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roger W. Jenkins bought 4,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following 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. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

RF has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Truist Financial reiterated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Stephens lifted their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Citigroup lifted their target price on shares of Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has an average rating of "Moderate Buy" and a consensus target price of $27.47.

Regions Financial Stock Down 0.9%

Shares of RF stock traded down $0.26 on Monday, hitting $26.91. The company's stock had a trading volume of 6,527,283 shares, compared to its average volume of 10,871,068. 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 Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The firm's fifty day moving average price is $25.91 and its 200-day moving average price is $22.99. The stock has a market capitalization of $24.01 billion, a price-to-earnings ratio of 12.49, a P/E/G 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 firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current 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 issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's payout ratio is presently 49.30%.

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.