Regions Financial Corporation $RF Shares Acquired by Forum Financial Management LP

Key Points

• Forum Financial Management LP increased its stake in Regions Financial Corporation by 63.9%, owning 26,825 shares valued at approximately $631,000.
• Major institutional investors, including Wellington Management Group and Charles Schwab Investment Management, have also boosted their holdings in Regions Financial, indicating strong institutional interest.
• Regions Financial has declared a quarterly dividend of $0.265 per share, representing an annualized dividend of $1.06 and a yield of 4.3%, with the ex-dividend date set for December 1st.

Forum Financial Management LP lifted its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 63.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,825 shares of the bank's stock after buying an additional 10,463 shares during the quarter. Forum Financial Management LP's holdings in Regions Financial were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its position in shares of Regions Financial by 3.7% during the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock worth $960,717,000 after buying an additional 1,562,512 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Regions Financial by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock worth $675,645,000 after buying an additional 1,909,162 shares in the last quarter. Invesco Ltd. grew its position in shares of Regions Financial by 35.7% during the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock worth $456,122,000 after buying an additional 5,521,772 shares in the last quarter. Amundi grew its position in shares of Regions Financial by 20.4% during the first quarter. Amundi now owns 10,010,267 shares of the bank's stock worth $198,721,000 after buying an additional 1,696,347 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Regions Financial by 3.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank's stock worth $216,866,000 after purchasing an additional 325,382 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Activity at Regions Financial

In related news, Director Roger W. Jenkins bought 4,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director owned 6,383 shares in the company, valued at $162,638.84. This trade represents a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the business'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 completion of the sale, the executive vice president owned 90,915 shares of the company's stock, valued at approximately $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 Upgrades and Downgrades

A number of equities analysts have commented on the stock. DA Davidson lifted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a report on Monday, September 29th. Cowen reaffirmed a "buy" rating on shares of Regions Financial in a report on Tuesday. Stephens reaffirmed an "equal weight" rating and issued a $27.00 price objective (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Finally, Evercore ISI lifted their price objective on shares of Regions Financial from $28.00 to $29.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $28.19.

Regions Financial Price Performance

NYSE:RF opened at $24.56 on Friday. The business's 50-day moving average price is $26.10 and its 200 day moving average price is $23.83. The firm has a market cap of $21.92 billion, a P/E ratio of 10.82, a PEG ratio of 1.24 and a beta of 1.02. 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 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The firm had revenue of $1.81 billion for the quarter. As a group, sell-side analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, December 1st. Regions Financial's payout ratio is currently 46.70%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.