TrueWealth Advisors LLC Raises Stock Position in Regions Financial Corporation $RF

Key Points

• TrueWealth Advisors LLC increased its stake in Regions Financial Corporation by 61.8% during the 2nd quarter, bringing its total shares to 30,707 valued at $722,000.
• Regions Financial recently declared a quarterly dividend of $0.265 per share, an increase from the previous dividend of $0.25, representing a 3.9% dividend yield.
• The bank reported an EPS of $0.60 for the last quarter, exceeding analysts' estimates and showing a 10.1% year-over-year revenue growth.

TrueWealth Advisors LLC increased its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 61.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,707 shares of the bank's stock after buying an additional 11,725 shares during the period. TrueWealth Advisors LLC's holdings in Regions Financial were worth $722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Regions Financial by 3.7% during the 1st quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock worth $960,717,000 after buying an additional 1,562,512 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Regions Financial by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock worth $675,645,000 after buying an additional 1,909,162 shares during the period. Invesco Ltd. increased its stake in Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock worth $456,122,000 after buying an additional 5,521,772 shares during the period. Amundi increased its stake in Regions Financial by 20.4% during the 1st quarter. Amundi now owns 10,010,267 shares of the bank's stock worth $198,721,000 after buying an additional 1,696,347 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Regions Financial by 11.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,369,608 shares of the bank's stock worth $220,373,000 after acquiring an additional 931,875 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Trading Up 0.6%

Shares of NYSE:RF opened at $27.19 on Friday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a market cap of $24.26 billion, a PE ratio of 12.65, a P/E/G ratio of 1.55 and a beta of 1.02. The company's 50-day moving average price is $25.91 and its 200 day moving average price is $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.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 EPS 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 company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $0.52 EPS. Regions Financial's revenue was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. 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%. Regions Financial's payout ratio is presently 49.30%.

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 transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger W. Jenkins purchased 4,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were bought 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 directly owned 6,383 shares in the company, valued at $162,638.84. This represents 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 insiders.

Analyst Ratings Changes

Several brokerages have weighed in on RF. Jefferies Financial Group began coverage on shares of Regions Financial in a report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective for the company. Citigroup raised their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Truist Financial reissued a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Cantor Fitzgerald began coverage on shares of Regions Financial in a report on Wednesday. They set an "overweight" rating and a $30.00 price objective for the company. Finally, Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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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