Bank of New York Mellon Corp Buys 151,564 Shares of Regions Financial Corporation $RF

Bank of New York Mellon Corp raised its position in shares of Regions Financial Corporation (NYSE:RF) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,611,874 shares of the bank’s stock after buying an additional 151,564 shares during the quarter. Bank of New York Mellon Corp’s holdings in Regions Financial were worth $172,702,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RF. Illinois Municipal Retirement Fund lifted its position in Regions Financial by 5.8% during the first quarter. Illinois Municipal Retirement Fund now owns 241,882 shares of the bank’s stock valued at $6,318,000 after purchasing an additional 13,364 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Regions Financial by 14.8% during the first quarter. Sanctuary Advisors LLC now owns 775,230 shares of the bank’s stock worth $20,249,000 after acquiring an additional 99,934 shares during the last quarter. Checchi Capital Advisers LLC raised its position in Regions Financial by 13.4% during the first quarter. Checchi Capital Advisers LLC now owns 23,083 shares of the bank’s stock valued at $603,000 after purchasing an additional 2,729 shares during the period. ABC Arbitrage SA bought a new stake in shares of Regions Financial in the 1st quarter valued at approximately $2,602,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Regions Financial in the 1st quarter valued at approximately $630,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RF. Cantor Fitzgerald boosted their target price on Regions Financial from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Truist Financial reaffirmed a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a research note on Tuesday, April 21st. Morgan Stanley boosted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada increased their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $31.32.

Regions Financial Trading Down 2.2%

RF opened at $31.67 on Friday. 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 stock’s 50 day moving average price is $28.95 and its 200-day moving average price is $28.24. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The stock has a market cap of $27.03 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.22 and a beta of 1.00.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.60 EPS. Regions Financial’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that Regions Financial Corporation will post 2.6 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. Regions Financial’s payout ratio is 44.17%.

Insiders Place Their Bets

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Key Regions Financial News

Here are the key news stories impacting Regions Financial this week:

• Positive Sentiment: Regions Financial beat Q2 earnings expectations, reporting $0.68 per share versus forecasts around $0.63-$0.64, which suggests better-than-expected profitability. Regions Financial (RF) Q2 Earnings Beat Estimates
• Positive Sentiment: Net interest income and lower credit provision helped offset higher expenses, signaling solid underlying banking trends and improving asset quality. Regions Financial Q2 earnings beat on solid NII, lower credit provision
• Positive Sentiment: The company raised its quarterly dividend by 13.2% to $0.30 per share, a sign of management confidence and a shareholder-friendly capital return policy. Regions Financial Corp. Announces 13% Increase in Common Stock Dividend and Declares Preferred Stock Dividends
• Neutral Sentiment: Revenue was slightly below expectations, which tempers the earnings beat and suggests some top-line pressure remains. Regions Financial Q2 Earnings Beat Estimates, NII, Expenses Up Y/Y

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.