Welch Group LLC Grows Position in Regions Financial Corporation $RF

Welch Group LLC grew its stake in Regions Financial Corporation (NYSE:RF) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,556 shares of the bank’s stock after purchasing an additional 2,396 shares during the period. Welch Group LLC’s holdings in Regions Financial were worth $3,235,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Regions Financial by 3.7% in the 1st quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock worth $960,717,000 after purchasing an additional 1,562,512 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Regions Financial by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock worth $675,645,000 after purchasing an additional 1,909,162 shares in the last quarter. Invesco Ltd. boosted its position in Regions Financial by 35.7% in the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock worth $456,122,000 after purchasing an additional 5,521,772 shares in the last quarter. Amundi boosted its position in Regions Financial by 20.4% in the 1st quarter. Amundi now owns 10,010,267 shares of the bank’s stock worth $198,721,000 after purchasing an additional 1,696,347 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Regions Financial by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock worth $216,866,000 after purchasing an additional 325,382 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 4.5%

NYSE RF opened at $24.16 on Monday. The business has a fifty day moving average price of $26.30 and a 200 day moving average price of $23.60. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $21.56 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.15 and a beta of 1.02.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm had revenue of $1.81 billion during the quarter. Research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.265 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.06 annualized dividend and a yield of 4.4%. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio is currently 49.30%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RF shares. DA Davidson upped their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Cantor Fitzgerald started coverage on Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price for the company. Stephens upped their target price on Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Citigroup upped their target price on Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Insider Buying and Selling at Regions Financial

In related news, Director Roger W. Jenkins bought 4,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director directly owned 6,383 shares in the company, valued at $162,638.84. This represents a 167.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.