SCS Capital Management LLC Takes $291,000 Position in Regions Financial Corporation $RF

Key Points

• SCS Capital Management LLC has acquired a new stake in Regions Financial Corporation, buying 13,223 shares valued at approximately $291,000.
• Regions Financial reported a quarterly earnings per share of $0.60, surpassing analysts' expectations, along with a revenue increase of 10.1% year-over-year.
• The bank declared an increased quarterly dividend of $0.265 per share, reflecting an annualized yield of 3.9%.

SCS Capital Management LLC acquired a new stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,223 shares of the bank's stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. IFG Advisory LLC lifted its position in shares of Regions Financial by 0.9% during the 1st quarter. IFG Advisory LLC now owns 52,531 shares of the bank's stock valued at $1,142,000 after acquiring an additional 470 shares during the last quarter. Horizon Investments LLC lifted its position in shares of Regions Financial by 3.9% during the 1st quarter. Horizon Investments LLC now owns 13,369 shares of the bank's stock valued at $291,000 after acquiring an additional 508 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Regions Financial by 8.7% during the 1st quarter. First Horizon Advisors Inc. now owns 6,641 shares of the bank's stock valued at $144,000 after acquiring an additional 532 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Regions Financial by 18.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,641 shares of the bank's stock valued at $79,000 after acquiring an additional 571 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Regions Financial by 0.8% during the 1st quarter. Stephens Inc. AR now owns 76,922 shares of the bank's stock valued at $1,672,000 after acquiring an additional 578 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Up 0.6%

NYSE RF opened at $27.19 on Friday. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a current ratio of 0.82, a quick 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 price-to-earnings-growth ratio of 1.55 and a beta of 1.02. The firm's fifty day simple moving average is $25.91 and its 200-day simple moving average is $23.00.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Regions Financial's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 paid a $0.265 dividend. 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. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is currently 49.30%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Morgan Stanley increased their target price on Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods increased their target price on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Cantor Fitzgerald assumed coverage on Regions Financial in a report on Wednesday. They issued an "overweight" rating and a $30.00 target price for the company. DA Davidson increased their target price on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Citigroup increased their target price on Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $27.47.

Insiders Place Their Bets

In other Regions Financial news, Director Roger W. Jenkins bought 4,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the transaction, the director directly owned 6,383 shares of the company's stock, valued at $162,638.84. This represents a 167.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the 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 transaction, the executive vice president directly owned 90,915 shares in the company, valued at $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

About Regions Financial

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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