Regions Financial Corporation $RF Shares Purchased by Amundi

Key Points

• Amundi raised its stake in Regions Financial Corporation by 20.4% during Q1, increasing its holdings to over 10 million shares valued at approximately $198.7 million.
• The company recently increased its quarterly dividend to $0.265 per share, reflecting a 3.9% yield and a positive adjustment from the previous dividend of $0.25.
• Regions Financial reported an EPS of $0.60 for the last quarter, surpassing analysts' expectations and showing a year-over-year revenue increase of 10.1%.

Amundi grew its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 20.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,010,267 shares of the bank's stock after purchasing an additional 1,696,347 shares during the period. Amundi owned about 1.11% of Regions Financial worth $198,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after purchasing an additional 1,058 shares during the last quarter. Rossby Financial LCC acquired a new position in Regions Financial during the first quarter valued at approximately $36,000. Groupe la Francaise acquired a new stake in shares of Regions Financial during the first quarter worth about $41,000. Grove Bank & Trust lifted its stake in 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 acquiring an additional 814 shares in the last quarter. Finally, Wealth Preservation Advisors LLC bought a new stake in Regions Financial during the first quarter worth about $58,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. DA Davidson upped their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 21st. Barclays restated an "underweight" rating and set a $27.00 target price (up previously from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Citigroup boosted their target price on shares of Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Jefferies Financial Group initiated coverage on shares of Regions Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Finally, Stephens increased their target price on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.47.

Insider Activity at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins acquired 4,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price 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 of the company's stock, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction 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 owned 90,915 shares of the company's stock, valued at $2,273,784.15. This 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 corporate insiders.

Regions Financial Stock Up 0.8%

Shares of RF stock traded up $0.21 during mid-day trading on Wednesday, hitting $27.03. 6,348,092 shares of the stock traded hands, compared to its average volume of 10,726,030. The stock's fifty day moving average is $25.76 and its two-hundred day moving average is $22.92. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The stock has a market cap of $24.12 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 13.08% and a net margin of 21.81%.The company's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. Equities analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.265 dividend. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. Regions Financial's payout ratio is currently 49.30%.

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.