Regions Financial Corporation $RF Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Regions Financial Corporation by 20.8%, owning approximately 0.10% of the bank valued at $20.7 million after purchasing an additional 151,400 shares.
• Regions Financial's stock received several upgrades from analysts, with target prices ranging from $29.00 to $32.00, and it holds an average rating of "Moderate Buy" according to MarketBeat.com.
• The company declared an increased quarterly dividend of $0.265, raising its annualized yield to 4.3% from the previous $0.25.

Aberdeen Group plc boosted its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 20.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 878,732 shares of the bank's stock after purchasing an additional 151,400 shares during the period. Aberdeen Group plc owned approximately 0.10% of Regions Financial worth $20,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hardy Reed LLC grew its position in Regions Financial by 1.6% during the 2nd quarter. Hardy Reed LLC now owns 25,747 shares of the bank's stock worth $606,000 after purchasing an additional 404 shares during the period. Greenwood Capital Associates LLC grew its position in Regions Financial by 0.6% during the 2nd quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank's stock worth $1,703,000 after purchasing an additional 427 shares during the period. IFG Advisory LLC grew its position in Regions Financial by 0.9% during the 1st quarter. IFG Advisory LLC now owns 52,531 shares of the bank's stock worth $1,142,000 after purchasing an additional 470 shares during the period. Signet Financial Management LLC grew its position in Regions Financial by 4.6% during the 2nd quarter. Signet Financial Management LLC now owns 10,896 shares of the bank's stock worth $256,000 after purchasing an additional 483 shares during the period. Finally, Tectonic Advisors LLC grew its position in Regions Financial by 2.4% during the 2nd quarter. Tectonic Advisors LLC now owns 21,871 shares of the bank's stock worth $514,000 after purchasing an additional 504 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the topic of several analyst reports. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Cantor Fitzgerald started coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They set an "overweight" rating and a $30.00 target price on the stock. Stephens increased their target price on shares of Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Morgan Stanley set a $32.00 target price on shares of Regions Financial in a research note on Monday, September 29th. Finally, DA Davidson increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Thirteen 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $27.89.

Insider Transactions at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roger W. Jenkins bought 4,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost 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 represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Regions Financial Trading Up 1.7%

Shares of Regions Financial stock opened at $24.58 on Tuesday. The firm has a market capitalization of $21.93 billion, a PE ratio of 11.43, a P/E/G ratio of 1.15 and a beta of 1.02. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The firm's 50-day moving average price is $26.28 and its 200 day moving average price is $23.63. 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 issued its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The firm had revenue of $1.81 billion for the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. On average, sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.265 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio is 49.30%.

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.

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