Regions Financial Corporation (NYSE:RF) Shares Purchased by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its holdings in Regions Financial Corporation by 6.6%, owning 342,263 shares valued at approximately $7.4 million after purchasing 21,068 additional shares in the first quarter.
• Regions Financial recently announced an increase in its quarterly dividend from $0.25 to $0.265, reflecting a yield of 4.3% for shareholders.
• The company reported earnings per share of $0.60 for its last quarter, surpassing estimates and showing a year-over-year revenue growth of 10.1%.

Benjamin Edwards Inc. increased its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 342,263 shares of the bank's stock after purchasing an additional 21,068 shares during the quarter. Benjamin Edwards Inc.'s holdings in Regions Financial were worth $7,437,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% in the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after acquiring an additional 1,058 shares in the last quarter. Rossby Financial LCC acquired a new stake in Regions Financial in the first quarter valued at approximately $36,000. Grove Bank & Trust grew its position in Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after acquiring an additional 814 shares in the last quarter. Allworth Financial LP grew its position in Regions Financial by 30.7% in the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock valued at $69,000 after acquiring an additional 786 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Regions Financial by 181.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after acquiring an additional 2,078 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Insiders Place Their Bets

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction 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 of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Regions Financial Stock Performance

Shares of RF opened at $24.92 on Friday. The business's fifty day moving average price is $23.90 and its 200 day moving average price is $22.59. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.96. The stock has a market capitalization of $22.24 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data 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 return on equity of 13.08% and a net margin of 21.81%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business posted $0.52 earnings per share. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business 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 boost from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's dividend payout ratio is 46.51%.

Analysts Set New Price Targets

Several brokerages have issued reports on RF. TD Cowen began coverage on shares of Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective for the company. Citigroup increased their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Cowen began coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Stephens increased their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Morgan Stanley increased their target price on Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.

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