Logan Capital Management Inc. Increases Holdings in Regions Financial Corporation $RF

Logan Capital Management Inc. boosted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 17.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,797 shares of the bank’s stock after purchasing an additional 23,697 shares during the period. Logan Capital Management Inc.’s holdings in Regions Financial were worth $3,385,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RF. Bayforest Capital Ltd increased its holdings in Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,058 shares during the period. Rossby Financial LCC purchased a new position in shares of Regions Financial during the 1st quarter worth approximately $36,000. Grove Bank & Trust grew its holdings 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. Groupe la Francaise purchased a new position in shares of Regions Financial during the 1st quarter worth approximately $41,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Regions Financial during the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays reiterated an “underweight” rating and set a $27.00 target price (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Citigroup upped their target price on Regions Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Stephens boosted their price target on Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. 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. Finally, Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Eleven 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 data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and a consensus price target of $27.33.

Insider Activity at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins acquired 4,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the transaction, the director owned 6,383 shares of the company’s stock, valued at $162,638.84. The trade was a 167.86% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares in the company, valued at $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Stock Performance

RF stock opened at $26.83 on Wednesday. The stock has a market capitalization of $23.94 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.02. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $25.76 and its 200 day simple moving average is $22.92.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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 business had revenue of $1.91 billion for 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 firm posted $0.52 EPS. As a group, research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given 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 is Tuesday, September 2nd. This represents a $1.06 annualized dividend and a yield of 4.0%. Regions Financial’s payout ratio is currently 49.30%.

About Regions Financial

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.