Shell Asset Management Co. Raises Position in Regions Financial Corporation $RF

Shell Asset Management Co. grew its position in Regions Financial Corporation (NYSE:RF) by 48.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 94,274 shares of the bank’s stock after buying an additional 30,675 shares during the period. Shell Asset Management Co.’s holdings in Regions Financial were worth $2,217,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Hardy Reed LLC boosted its position in shares of Regions Financial by 1.6% during the second quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock worth $606,000 after acquiring an additional 404 shares during the last quarter. Greenwood Capital Associates LLC boosted its position in shares of Regions Financial by 0.6% during the second quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock worth $1,703,000 after acquiring an additional 427 shares during the last quarter. IFG Advisory LLC boosted its position in shares of Regions Financial by 0.9% during the first quarter. IFG Advisory LLC now owns 52,531 shares of the bank’s stock worth $1,142,000 after acquiring an additional 470 shares during the last quarter. Signet Financial Management LLC boosted its position in shares of Regions Financial by 4.6% during the second quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock worth $256,000 after acquiring an additional 483 shares during the last quarter. Finally, Horizon Investments LLC boosted its position in shares of Regions Financial by 3.9% during the first quarter. Horizon Investments LLC now owns 13,369 shares of the bank’s stock worth $291,000 after acquiring an additional 508 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Down 1.7%

Shares of RF opened at $25.29 on Thursday. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a market cap of $22.57 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.48 and a beta of 1.02. 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 company’s fifty day simple moving average is $26.31 and its 200-day simple moving average is $23.55.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced 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 an increase from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Regions Financial’s payout ratio is currently 49.30%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RF. Citigroup upped their target price 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. Cantor Fitzgerald began coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price for the company. Evercore ISI upped their target price on shares of Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Barclays reaffirmed an “underweight” rating and set a $27.00 price target (up previously from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Finally, DA Davidson upped their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.89.

Insider Buying and Selling at Regions Financial

In other news, Director Roger W. Jenkins bought 4,000 shares of Regions Financial stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director owned 6,383 shares in the company, valued at $162,638.84. The trade was a 167.86% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Company 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.