KLP Kapitalforvaltning AS Purchases 16,800 Shares of Regions Financial Corporation $RF

KLP Kapitalforvaltning AS raised its position in Regions Financial Corporation (NYSE:RF) by 5.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 327,826 shares of the bank’s stock after acquiring an additional 16,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Regions Financial were worth $7,778,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of RF. American National Bank & Trust lifted its stake in Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,022 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,058 shares in the last quarter. Rossby Financial LCC bought a new stake in Regions Financial in the 1st quarter valued at approximately $36,000. Grove Bank & Trust lifted its stake in Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock valued at $41,000 after acquiring an additional 814 shares in the last quarter. Finally, Groupe la Francaise bought a new stake in Regions Financial in the 1st quarter valued at approximately $41,000. Institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of several recent analyst reports. Citigroup increased their price objective on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Barclays reissued an “underweight” rating and issued a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday. Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Keefe, Bruyette & Woods increased their price objective on Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Regions Financial Price Performance

Shares of NYSE RF opened at $25.29 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. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The stock has a market capitalization of $22.57 billion, a P/E ratio of 11.76, a PEG ratio of 1.46 and a beta of 1.02. The stock’s fifty day moving average is $26.31 and its 200 day moving average is $23.57.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $0.52 earnings per share. Regions Financial’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal 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 given a $0.265 dividend. The ex-dividend date was Tuesday, September 2nd. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.2%. Regions Financial’s dividend payout ratio (DPR) is 49.30%.

Insider Activity

In other Regions Financial news, Director Roger W. Jenkins acquired 4,000 shares of Regions Financial 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 completion of the purchase, the director directly owned 6,383 shares of the company’s stock, valued at $162,638.84. This represents a 167.86% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, 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. Company insiders own 0.29% of the company’s stock.

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.