Regions Financial Corporation $RF Shares Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its stake in Regions Financial Corporation by 13.8% during the 2nd quarter, owning 646,092 shares valued at approximately $15.2 million.
• Regions Financial announced a quarterly dividend of $0.265 per share, which translates to an annualized yield of 4.4% and a payout ratio of 46.7%.
• The stock has a market capitalization of $21.52 billion and a current average rating of "Moderate Buy" with a consensus target price of $27.94.

First Citizens Bank & Trust Co. grew its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 646,092 shares of the bank's stock after purchasing an additional 78,377 shares during the period. First Citizens Bank & Trust Co. owned 0.07% of Regions Financial worth $15,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RF. Invesco Ltd. lifted its stake in shares of Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock worth $456,122,000 after purchasing an additional 5,521,772 shares during the period. Nuveen LLC purchased a new stake in Regions Financial in the 1st quarter valued at about $53,018,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock worth $675,645,000 after purchasing an additional 1,909,162 shares during the period. Amundi boosted its position in shares of Regions Financial by 20.4% in 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 during the period. Finally, Wellington Management Group LLP grew its stake in shares of Regions Financial by 3.7% in the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock valued at $960,717,000 after buying an additional 1,562,512 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF opened at $24.12 on Thursday. The stock has a market capitalization of $21.52 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.15 and a beta of 1.02. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.96. The firm's 50 day moving average is $26.16 and its 200-day moving average is $23.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. The firm had revenue of $1.81 billion during the quarter. Equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.265 per share. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 4.4%. Regions Financial's dividend payout ratio (DPR) is presently 46.70%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays restated an "underweight" rating and issued a $27.00 price target (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Stephens reiterated an "equal weight" rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods increased their target price on shares of Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Regions Financial in a research report on Wednesday, October 8th. Eleven research 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.94.

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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