Regions Financial Corporation $RF Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. increased its position in shares of Regions Financial Corporation (NYSE:RF) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,360 shares of the bank’s stock after acquiring an additional 4,991 shares during the period. Grimes & Company Inc.’s holdings in Regions Financial were worth $23,011,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted 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 acquiring an additional 1,562,512 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 1,909,162 shares in the last quarter. Invesco Ltd. lifted 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 acquiring an additional 5,521,772 shares in the last quarter. Amundi lifted 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 acquiring an additional 1,696,347 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Regions Financial by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 5,989,323 shares of the bank’s stock worth $130,148,000 after acquiring an additional 32,082 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Barclays reaffirmed an “underweight” rating and issued a $27.00 price target (up previously from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Evercore ISI increased their price target on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley set a $32.00 price target on Regions Financial in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Regions Financial in a research report on Saturday, September 27th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $27.89.

Insider Transactions at Regions Financial

In other news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roger W. Jenkins purchased 4,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the transaction, the director 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. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Trading Up 0.6%

RF opened at $26.36 on Monday. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The company has a market cap of $23.52 billion, a P/E ratio of 12.26, a PEG ratio of 1.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50-day simple moving average is $26.34 and its 200-day simple moving average is $23.49.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 18th. The bank reported $0.60 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 business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio (DPR) is currently 49.30%.

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.