Regions Financial Corporation $RF Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Regions Financial Corporation by 1.2% during the 1st quarter, leaving it with 912,959 shares valued at approximately $19.8 million.
• Regions Financial recently announced a quarterly dividend of $0.265, representing a 3.9% dividend yield and an increase from its previous dividend of $0.25.
• The bank reported earnings of $0.60 per share for the last quarter, exceeding analysts' expectations by $0.04, and indicated a projection of 2.26 EPS for the current fiscal year.

Swedbank AB reduced its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 912,959 shares of the bank's stock after selling 11,302 shares during the period. Swedbank AB owned 0.10% of Regions Financial worth $19,839,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bayforest Capital Ltd boosted its holdings in shares of Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC acquired a new position in shares of Regions Financial in the 1st quarter valued at $36,000. Grove Bank & Trust boosted its holdings in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after buying an additional 814 shares in the last quarter. Groupe la Francaise acquired a new position in shares of Regions Financial in the 1st quarter valued at $41,000. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Regions Financial in the 1st quarter valued at $58,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of RF opened at $27.19 on Monday. The company has a 50-day simple moving average of $25.91 and a 200-day simple moving average of $22.99. 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 company has a market capitalization of $24.26 billion, a PE ratio of 12.65, a P/E/G ratio of 1.56 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.

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

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's payout ratio is 49.30%.

Insider Transactions at Regions Financial

In related news, Director Roger W. Jenkins purchased 4,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director directly owned 6,383 shares of the company's stock, valued at $162,638.84. This trade represents a 167.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $750,300.00. Following the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Regions Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price for the company. Morgan Stanley increased their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Stephens increased their price target 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. Citigroup increased their price target on shares of Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Barclays reiterated an "underweight" rating and set a $27.00 price target (up previously from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of "Moderate Buy" and an average target price of $27.47.

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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