Regions Financial Corporation $RF Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Regions Financial Corporation by 1.1%, now holding approximately 2.62 million shares valued at $56.99 million.
• Regions Financial recently announced a **dividend increase**, raising its quarterly dividend to **$0.265 per share**, representing a yield of **4.1%**.
• Despite slight ownership reductions from some investors, **institutional investors hold 79.39%** of Regions Financial's stock, reflecting strong institutional confidence in the company.

American Century Companies Inc. lowered its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,622,413 shares of the bank's stock after selling 28,645 shares during the quarter. American Century Companies Inc. owned approximately 0.29% of Regions Financial worth $56,985,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Regions Financial by 11.4% during the first quarter. EverSource Wealth Advisors LLC now owns 20,171 shares of the bank's stock valued at $438,000 after acquiring an additional 2,068 shares during the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of Regions Financial by 62.7% during the first quarter. Brandywine Global Investment Management LLC now owns 779,618 shares of the bank's stock valued at $16,941,000 after acquiring an additional 300,535 shares during the last quarter. Element Capital Management LLC purchased a new stake in shares of Regions Financial in the first quarter valued at approximately $2,665,000. Horizon Investments LLC grew its position in shares of Regions Financial by 3.9% in the first quarter. Horizon Investments LLC now owns 13,369 shares of the bank's stock valued at $291,000 after purchasing an additional 508 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Regions Financial by 3.1% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,026 shares of the bank's stock valued at $522,000 after purchasing an additional 728 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Price Performance

RF stock opened at $25.6950 on Wednesday. The business has a fifty day moving average of $24.44 and a two-hundred day moving average of $22.64. 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 stock has a market cap of $22.93 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results 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. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.1%. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's payout ratio is 46.51%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. TD Cowen assumed coverage on Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target for the company. DA Davidson upped their price target on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Cowen assumed coverage on Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group dropped their price target on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Eleven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial currently has an average rating of "Moderate Buy" and an average target price of $27.33.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction 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 $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger W. Jenkins acquired 4,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director directly owned 6,383 shares of the company's stock, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

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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