Bank of New York Mellon Corp Acquires 736,296 Shares of Regions Financial Corporation $RF

Bank of New York Mellon Corp raised its holdings in shares of Regions Financial Corporation (NYSE:RF) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,460,310 shares of the bank’s stock after purchasing an additional 736,296 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of Regions Financial worth $175,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in shares of Regions Financial in the fourth quarter valued at about $254,564,000. Victory Capital Management Inc. raised its holdings in shares of Regions Financial by 52.9% in the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after acquiring an additional 4,679,285 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Regions Financial by 286.2% in the third quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after acquiring an additional 2,980,505 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Regions Financial by 151.2% in the third quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after acquiring an additional 2,371,048 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Regions Financial by 85.9% in the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after acquiring an additional 2,137,062 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RF. Morgan Stanley decreased their price objective on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a report on Tuesday, March 3rd. DA Davidson lifted their price objective on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Brean Capital began coverage on Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating for the company. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.47.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $28.57 on Friday. The company has a market capitalization of $24.38 billion, a PE ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $27.49. Regions Financial Corporation has a one year low of $21.40 and a one year high of $31.53.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Research analysts expect that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.265 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. Regions Financial’s payout ratio is currently 44.17%.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.