Price T Rowe Associates Inc. MD Acquires 47,953 Shares of Regions Financial Corporation $RF

Key Points

• Price T Rowe Associates Inc. acquired an additional 47,953 shares of Regions Financial Corporation, raising its stake by 2.3% to a total of 2,177,785 shares, valued at approximately $47.3 million.
• Insider transactions revealed that EVP David R. Keenan sold 30,000 shares, reducing his position by 24.81%, while Director Roger W. Jenkins purchased 4,000 shares, increasing his stake by 167.86%.
• Regions Financial recently increased its quarterly dividend to $0.265 per share, representing a 3.9% yield, and had a strong earnings report with $0.60 EPS, beating estimates by $0.04.

Price T Rowe Associates Inc. MD grew its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,177,785 shares of the bank's stock after buying an additional 47,953 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.24% of Regions Financial worth $47,324,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bayforest Capital Ltd raised its position in shares of Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after purchasing an additional 1,058 shares during the period. Rossby Financial LCC acquired a new position in shares of Regions Financial during the first quarter worth approximately $36,000. Grove Bank & Trust raised its position in shares of Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares during the period. Allworth Financial LP raised its position in shares of Regions Financial by 30.7% during the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares during the period. Finally, Proathlete Wealth Management LLC acquired a new position in shares of Regions Financial during the first quarter worth approximately $77,000. 79.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RF. Stephens upped their target price on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Barclays reaffirmed an "underweight" rating and set a $27.00 target price (up from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. TD Cowen began coverage on Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 target price on the stock. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, Cowen began coverage on Regions Financial in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Eleven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.33.

Regions Financial Price Performance

Shares of NYSE:RF opened at $27.47 on Thursday. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The stock has a market cap of $24.51 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01. The stock's fifty day simple moving average is $25.02 and its two-hundred day simple moving average is $22.74. 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 (NYSE:RF - Get Free Report) last released its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. As a group, analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm 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 dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. 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 presently 46.51%.

About Regions Financial

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.

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