Vident Advisory LLC Raises Holdings in Regions Financial Corporation $RF

Key Points

• Vident Advisory LLC significantly increased its stake in Regions Financial Corporation by 457.7% during the first quarter, acquiring over 162,000 additional shares, bringing its total holdings to nearly 200,000 shares valued at $4.3 million.
• Regions Financial recently upped its quarterly dividend from $0.25 to $0.265 per share, resulting in an annualized yield of 3.9%, with the ex-dividend date set for September 2nd.
• Wall Street analysts exhibit a positive outlook for the company, with a consensus rating of "Moderate Buy" and an average price target of $27.33, reflecting bullish sentiment on the stock's growth potential.

Vident Advisory LLC boosted its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 457.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 197,881 shares of the bank's stock after purchasing an additional 162,397 shares during the quarter. Vident Advisory LLC's holdings in Regions Financial were worth $4,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC raised its stake in Regions Financial by 5.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock valued at $6,606,000 after purchasing an additional 15,652 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Regions Financial by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock worth $52,762,000 after acquiring an additional 21,169 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Regions Financial by 13.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock worth $3,424,000 after acquiring an additional 18,684 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in Regions Financial by 62.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock worth $440,000 after acquiring an additional 7,822 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in Regions Financial in the 1st quarter worth approximately $272,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Trading Up 0.0%

RF traded up $0.01 during trading hours on Wednesday, reaching $26.90. 18,485,869 shares of the company's stock traded hands, compared to its average volume of 10,563,906. The firm has a 50-day moving average price of $25.48 and a 200 day moving average price of $22.85. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $24.00 billion, a PE ratio of 12.51, a PEG ratio of 1.58 and a beta of 1.02.

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

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio (DPR) is currently 46.51%.

Wall Street Analyst Weigh In

RF has been the topic of a number of research reports. TD Cowen initiated coverage on Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Jefferies Financial Group started coverage on Regions Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective on the stock. Finally, DA Davidson boosted their target price on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.33.

Insider Buying and Selling at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the company'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 transaction, the executive vice president directly owned 90,915 shares of the company's stock, valued at $2,273,784.15. This represents a 24.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Roger W. Jenkins bought 4,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the transaction, the director directly owned 6,383 shares in the company, valued at $162,638.84. This represents 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 currently owned by corporate insiders.

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.