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

Grimes & Company Inc. lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 978,360 shares of the bank’s stock after buying an additional 4,991 shares during the quarter. Grimes & Company Inc. owned approximately 0.11% of Regions Financial worth $23,011,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Greenwood Capital Associates LLC raised its stake in shares of Regions Financial by 0.6% during the 2nd quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock worth $1,703,000 after buying an additional 427 shares during the period. IFG Advisory LLC raised its stake in shares of Regions Financial by 0.9% during the 1st quarter. IFG Advisory LLC now owns 52,531 shares of the bank’s stock worth $1,142,000 after buying an additional 470 shares during the period. Signet Financial Management LLC raised its stake in shares of Regions Financial by 4.6% during the 2nd quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock worth $256,000 after buying an additional 483 shares during the period. Horizon Investments LLC raised its stake in shares of Regions Financial by 3.9% during the 1st quarter. Horizon Investments LLC now owns 13,369 shares of the bank’s stock worth $291,000 after buying an additional 508 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Regions Financial by 8.7% during the 1st quarter. First Horizon Advisors Inc. now owns 6,641 shares of the bank’s stock worth $144,000 after buying an additional 532 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Regions Financial

In other news, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roger W. Jenkins purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the purchase, the director 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 disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RF. Evercore ISI boosted their price target on Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Regions Financial in a research report on Saturday, September 27th. DA Davidson boosted their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Cantor Fitzgerald began coverage on Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Thirteen 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Regions Financial Stock Up 0.6%

Shares of NYSE:RF opened at $26.36 on Monday. 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 business has a fifty day moving average of $26.34 and a two-hundred day moving average of $23.49. The stock 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. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. On average, 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 declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.265 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.06 annualized dividend and a dividend yield of 4.0%. Regions Financial’s dividend payout ratio is currently 49.30%.

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.