2,439,857 Shares in Regions Financial Corporation (NYSE:RF) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a stake in Regions Financial Corporation worth approximately $53.02 million, purchasing 2,439,857 shares, which represents 0.27% of the company.
• Recent analyses have led to various price target adjustments, with Barclays setting a new target of $27.00, while Stephens and Morgan Stanley both raised their targets to $29.00.
• Regions Financial recently declared a quarterly dividend of $0.265, an increase from the previous $0.25, translating to an annual yield of 4.1%.

Nuveen LLC acquired a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,439,857 shares of the bank's stock, valued at approximately $53,018,000. Nuveen LLC owned 0.27% of Regions Financial at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RF. Invesco Ltd. lifted its position in shares of Regions Financial by 35.7% during the 1st 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 period. Benjamin Edwards Inc. raised its position in shares of Regions Financial by 6.6% during the 1st quarter. Benjamin Edwards Inc. now owns 342,263 shares of the bank's stock worth $7,437,000 after purchasing an additional 21,068 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Regions Financial during the 1st quarter worth approximately $6,044,000. Townsquare Capital LLC acquired a new position in shares of Regions Financial during the 1st quarter worth approximately $606,000. Finally, Forsta AP Fonden raised its position in shares of Regions Financial by 4.3% during the 1st quarter. Forsta AP Fonden now owns 213,600 shares of the bank's stock worth $4,642,000 after purchasing an additional 8,900 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

RF traded down $0.43 on Friday, reaching $25.62. The company had a trading volume of 16,243,128 shares, compared to its average volume of 17,167,708. The business has a 50 day simple moving average of $24.31 and a 200 day simple moving average of $22.62. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.47 and a beta of 1.01. 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 52-week low of $17.74 and a 52-week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the business earned $0.52 earnings per share. The business's revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.265 dividend. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.1%. Regions Financial's payout ratio is presently 46.51%.

Insider Transactions at Regions Financial

In other news, Director Roger W. Jenkins acquired 4,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the acquisition, the director directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David R. Keenan sold 30,000 shares of the company'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 value of $750,300.00. Following 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 disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. TD Cowen started coverage on shares of Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target on the stock. Truist Financial restated a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Morgan Stanley increased their target price 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. Finally, 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 report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Regions Financial presently 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.