Regions Financial Corporation $RF Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its holdings in Regions Financial Corporation by 19.8%, acquiring an additional 19,204 shares, bringing its total ownership to 116,281 shares valued at approximately $2.53 million.
• Regions Financial has recently raised its quarterly dividend to $0.265 per share, representing a dividend yield of 3.9% with a payout ratio of 49.30%.
• The bank reported a >10% year-over-year revenue increase, with quarterly EPS of $0.60, exceeding analyst expectations of $0.56.

OMERS ADMINISTRATION Corp grew its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,281 shares of the bank's stock after purchasing an additional 19,204 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Regions Financial were worth $2,527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayforest Capital Ltd grew its stake in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Regions Financial during the first quarter worth $36,000. Grove Bank & Trust boosted its holdings in shares of Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after acquiring an additional 814 shares during the period. Groupe la Francaise purchased a new position in shares of Regions Financial in the first quarter valued at $41,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Regions Financial during the 1st quarter valued at $58,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Trading Down 0.4%

RF traded down $0.10 on Wednesday, hitting $26.80. The company had a trading volume of 14,855,152 shares, compared to its average volume of 10,538,111. The company's fifty day moving average price is $25.40 and its 200 day moving average price is $22.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The firm has a market cap of $23.91 billion, a P/E ratio of 12.47, a PEG ratio of 1.58 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.Regions Financial's revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, equities analysts expect that Regions Financial Corporation will post 2.26 earnings per share 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 issued a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 4.0%. Regions Financial's payout ratio is presently 46.51%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson upped their price target on Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Citigroup raised their price target on Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. 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 objective on the stock. Finally, Keefe, Bruyette & Woods upped 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. Eleven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.33.

Insider Transactions at Regions Financial

In related news, Director Roger W. Jenkins acquired 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares in the company, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was 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 owned 90,915 shares in the company, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

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.