Logan Capital Management Inc. Raises 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. raised its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,797 shares of the bank's stock after purchasing an additional 23,697 shares during the quarter. Logan Capital Management Inc.'s holdings in Regions Financial were worth $3,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RF. Wellington Management Group LLP increased its position in shares of Regions Financial by 3.7% during the first 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. Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock valued at $675,645,000 after acquiring an additional 1,909,162 shares during the last quarter. Invesco Ltd. increased its position in shares of Regions Financial by 35.7% during the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock valued at $456,122,000 after acquiring an additional 5,521,772 shares during the last quarter. Amundi increased its position in shares of Regions Financial by 20.4% during the first quarter. Amundi now owns 10,010,267 shares of the bank's stock valued at $198,721,000 after acquiring an additional 1,696,347 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Regions Financial by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,369,608 shares of the bank's stock valued at $220,373,000 after acquiring an additional 931,875 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

NYSE:RF opened at $26.83 on Wednesday. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.56 and a beta of 1.02. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The stock has a fifty day moving average of $25.76 and a 200 day moving average of $22.92. 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 (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share 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 business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. On average, research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.0%. 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 dividend payout ratio is 49.30%.

Insider Activity at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction that occurred 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 directly owned 90,915 shares in the company, valued at $2,273,784.15. This trade 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 the SEC website. 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 bought 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 disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen assumed coverage on Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price for the company. Citigroup raised 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. DA Davidson raised their target price on Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods raised their price target on Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Barclays reaffirmed an "underweight" rating and issued a $27.00 price target (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $27.33.

Regions Financial 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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.