Board of the Pension Protection Fund Buys New Shares in Regions Financial Corporation $RF

Board of the Pension Protection Fund acquired a new stake in Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,300 shares of the bank’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American National Bank & Trust grew its holdings in Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares during the period. Bayforest Capital Ltd grew its holdings in Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after purchasing an additional 1,058 shares during the period. Rossby Financial LCC bought a new position in Regions Financial during the first quarter worth about $36,000. Grove Bank & Trust boosted its stake in shares of Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock worth $41,000 after acquiring an additional 814 shares during the period. Finally, Groupe la Francaise bought a new position in shares of Regions Financial during the 1st quarter worth approximately $41,000. Institutional investors own 79.39% of the company’s stock.

Insider Activity 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 transaction of $750,300.00. Following the completion of the sale, the executive vice president directly 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 hyperlink. Also, Director Roger W. Jenkins bought 4,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $25.48 per share, with a total value 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. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Regions Financial Trading Down 4.5%

Shares of Regions Financial stock opened at $24.16 on Friday. 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 stock has a market cap of $21.56 billion, a PE ratio of 11.24, a PEG ratio of 1.39 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. The firm has a 50-day moving average of $26.30 and a 200-day moving average of $23.59.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The firm had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.4%. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, September 2nd. Regions Financial’s dividend payout ratio is presently 49.30%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Regions Financial in a research note on Wednesday. Citigroup lifted their price objective on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Stephens lifted their target price on shares of Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Finally, Cantor Fitzgerald began coverage on shares of Regions Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price for the company. Thirteen 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.89.

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.