Greenwood Capital Associates LLC Acquires 427 Shares of Regions Financial Corporation $RF

Greenwood Capital Associates LLC lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,400 shares of the bank’s stock after purchasing an additional 427 shares during the period. Greenwood Capital Associates LLC’s holdings in Regions Financial were worth $1,703,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in 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. Nuveen LLC bought a new position in Regions Financial in the 1st quarter worth approximately $53,018,000. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock valued at $675,645,000 after buying an additional 1,909,162 shares in the last quarter. Amundi raised its holdings in Regions Financial by 20.4% during the 1st quarter. Amundi now owns 10,010,267 shares of the bank’s stock valued at $198,721,000 after acquiring an additional 1,696,347 shares during the period. Finally, Wellington Management Group LLP lifted its position 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 worth $960,717,000 after acquiring an additional 1,562,512 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In other news, Director Roger W. Jenkins acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction on 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 owned 90,915 shares in the company, valued at approximately $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.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Tuesday. DA Davidson boosted their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Morgan Stanley set a $32.00 target price on Regions Financial in a research note on Monday. Barclays reiterated an “underweight” rating and issued a $27.00 price objective (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Finally, Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.89.

Regions Financial Stock Performance

Shares of RF stock opened at $26.19 on Friday. The stock has a fifty day moving average of $26.34 and a 200 day moving average of $23.44. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.51 and a beta of 1.02. 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 Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. Regions Financial’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was 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 4.0%. Regions Financial’s payout ratio is presently 49.30%.

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.