Mizuho Securities USA LLC Lowers Holdings in Regions Financial Corporation (NYSE:RF)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Regions Financial Corporation by 15.5% during Q1, now owning approximately 72,783 shares valued at $1.58 million.
• Regions Financial's recent earnings report showed a quarterly EPS of $0.60, exceeding expectations and representing a 10.1% increase in revenue year-over-year.
• The bank has announced a quarterly dividend increase to $0.265 per share, with an upcoming payment date of October 1st, reflecting a 4.3% dividend yield.

Mizuho Securities USA LLC reduced its position in Regions Financial Corporation (NYSE:RF - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,783 shares of the bank's stock after selling 13,357 shares during the period. Mizuho Securities USA LLC's holdings in Regions Financial were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RF. Charles Schwab Investment Management Inc. lifted its stake in shares of Regions Financial by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock valued at $675,645,000 after purchasing an additional 1,909,162 shares during the period. Deutsche Bank AG raised its position in shares of Regions Financial by 52.7% during the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after purchasing an additional 1,907,121 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Regions Financial in the 4th quarter valued at about $31,480,000. AustralianSuper Pty Ltd purchased a new position in Regions Financial in the 1st quarter valued at about $28,726,000. Finally, Northern Trust Corp lifted its stake in Regions Financial by 14.8% in the 4th quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock valued at $227,176,000 after buying an additional 1,247,882 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Up 0.8%

Shares of NYSE:RF traded up $0.20 during midday trading on Thursday, reaching $26.04. 17,436,266 shares of the company's stock were exchanged, compared to its average volume of 10,013,761. The firm's 50 day simple moving average is $24.14 and its two-hundred day simple moving average is $22.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.46 and a beta of 1.01. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced 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 net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business earned $0.52 earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts forecast 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. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. 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 dividend yield of 4.1%. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is 49.30%.

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 shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger W. Jenkins purchased 4,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of 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. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RF. DA Davidson raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 21st. The Goldman Sachs Group decreased their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Jefferies Financial Group started coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price for the company. Finally, Truist Financial reiterated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.