SVB Wealth LLC Has $2.90 Million Stock Holdings in Regions Financial Corporation $RF

Key Points

• SVB Wealth LLC increased its holdings in Regions Financial Corporation by 255.8% during the first quarter, acquiring an additional 95,831 shares, bringing its total to 133,287 shares valued at approximately $2.9 million.
• Regions Financial has declared a quarterly dividend of $0.265 per share, marking an increase from the previous quarter's $0.25, with a yield of 4.0%.
• Recent analyst ratings show a consensus of "Moderate Buy" for Regions Financial stock, with eleven analysts giving it a Buy rating and a target price increase to an average of $27.33.

SVB Wealth LLC boosted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 255.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 133,287 shares of the bank's stock after buying an additional 95,831 shares during the period. SVB Wealth LLC's holdings in Regions Financial were worth $2,896,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Regions Financial by 3.7% during the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock valued at $960,717,000 after purchasing an additional 1,562,512 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Regions Financial by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock valued at $675,645,000 after purchasing an additional 1,909,162 shares during the period. Invesco Ltd. raised its stake in shares of Regions Financial by 35.7% during the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock valued at $456,122,000 after purchasing an additional 5,521,772 shares during the period. Northern Trust Corp raised its stake in shares of Regions Financial by 14.8% during the fourth quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock valued at $227,176,000 after purchasing an additional 1,247,882 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Regions Financial by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,369,608 shares of the bank's stock valued at $220,373,000 after purchasing an additional 931,875 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

RF stock traded up $0.45 during mid-day trading on Tuesday, reaching $27.10. The company had a trading volume of 19,624,929 shares, compared to its average volume of 15,299,317. 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 capitalization of $24.18 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.53 and a beta of 1.01. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The stock's 50-day simple moving average is $24.91 and its two-hundred day simple moving average is $22.71.

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, beating analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business posted $0.52 earnings per share. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. 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 dividend yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is presently 46.51%.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger W. Jenkins purchased 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 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 ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RF. TD Cowen began coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target for the company. Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Stephens raised their price target on shares of Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods raised their price target on shares of Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Cowen began coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Eleven investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.33.

Regions Financial 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.