Regions Financial Corporation $RF Position Raised by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management increased its stake in Regions Financial Corporation by 83.5% during the first quarter, now owning 3,032,813 shares valued at approximately $65.9 million.
• Regions Financial recently announced a quarterly dividend of $0.265, representing a 4.0% yield, which is an increase from the previous $0.25 dividend.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $27.33 based on 11 Buy ratings and 7 Hold ratings.

T. Rowe Price Investment Management Inc. increased its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 83.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,032,813 shares of the bank's stock after buying an additional 1,379,993 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.34% of Regions Financial worth $65,904,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RF. Bayforest Capital Ltd raised 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 purchasing an additional 1,058 shares in the last quarter. Rossby Financial LCC purchased a new stake in Regions Financial during the first quarter worth approximately $36,000. Grove Bank & Trust boosted its holdings in Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after purchasing an additional 814 shares in the last quarter. Allworth Financial LP raised its holdings in Regions Financial by 30.7% during the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Regions Financial by 181.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after buying an additional 2,078 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

Regions Financial stock traded down $0.12 during midday trading on Thursday, reaching $27.29. The company's stock had a trading volume of 7,768,994 shares, compared to its average volume of 10,358,121. The firm has a market capitalization of $24.35 billion, a PE ratio of 12.69, a P/E/G ratio of 1.56 and a beta of 1.01. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The stock's 50 day simple moving average is $25.02 and its 200 day simple moving average is $22.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, September 2nd. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 3.9%. Regions Financial's payout ratio is currently 46.51%.

Insider Activity at Regions Financial

In other Regions Financial news, 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 completion of the sale, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger W. Jenkins purchased 4,000 shares of Regions Financial 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 completion of the transaction, the director owned 6,383 shares in the company, valued at approximately $162,638.84. The trade was a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cowen initiated coverage on Regions Financial in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Jefferies Financial Group started coverage on Regions Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective for the company. Citigroup lifted their target price on shares of Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Truist Financial reiterated a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. 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's stock. Based on data from MarketBeat, Regions Financial has an average rating of "Moderate Buy" and an average target price of $27.33.

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.