LSV Asset Management Cuts Stake in Regions Financial Corporation (NYSE:RF)

Key Points

• LSV Asset Management reduced its stake in Regions Financial Corporation by 4.5%, selling 447,300 shares, and now holds approximately 1.06% of the company valued at $208 million.
• Regions Financial recently announced a quarterly dividend increase from $0.25 to $0.265 per share, representing an annualized yield of 4.3%.
• The bank reported a quarterly earnings per share of $0.60, exceeding estimates, with revenue increasing 10.1% year-over-year to $1.91 billion.

LSV Asset Management cut its position in Regions Financial Corporation (NYSE:RF - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,576,010 shares of the bank's stock after selling 447,300 shares during the period. LSV Asset Management owned 1.06% of Regions Financial worth $208,087,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after acquiring an additional 1,963,954 shares in the last quarter. Deutsche Bank AG lifted its stake in Regions Financial by 52.7% in the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock valued at $129,892,000 after acquiring an additional 1,907,121 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Regions Financial in the fourth quarter valued at $31,480,000. AustralianSuper Pty Ltd acquired a new stake in shares of Regions Financial during the 1st quarter worth about $28,726,000. Finally, Northern Trust Corp lifted its stake in shares of Regions Financial by 14.8% during the 4th quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock worth $227,176,000 after buying an additional 1,247,882 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Down 0.1%

Shares of NYSE RF traded down $0.02 during midday trading on Tuesday, reaching $25.16. The stock had a trading volume of 11,527,336 shares, compared to its average volume of 9,807,185. 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 twelve month low of $17.74 and a twelve month high of $27.96. The company's 50 day moving average price is $23.55 and its 200 day moving average price is $22.56. The firm has a market cap of $22.62 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

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. The company 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%. Regions Financial's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. 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 (DPR) is currently 49.30%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. TD Cowen started coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target on the stock. DA Davidson raised their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 21st. Cowen assumed coverage on shares of Regions Financial in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley lifted their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.33.

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.