Logan Capital Management Inc. Buys 28,018 Shares of Regions Financial Corporation $RF

Logan Capital Management Inc. grew its holdings in shares of Regions Financial Corporation (NYSE:RF) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,168 shares of the bank’s stock after buying an additional 28,018 shares during the quarter. Logan Capital Management Inc.’s holdings in Regions Financial were worth $4,964,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RF. Norges Bank purchased a new stake in shares of Regions Financial during the 4th quarter valued at about $254,564,000. Victory Capital Management Inc. raised its position in shares of Regions Financial by 52.9% during the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after buying an additional 4,679,285 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after buying an additional 2,980,505 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after buying an additional 2,371,048 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Regions Financial by 85.9% during the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after buying an additional 2,137,062 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

Shares of RF stock opened at $28.91 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $24.67 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.12 and a beta of 1.00. The company’s 50-day simple moving average is $27.73 and its two-hundred day simple moving average is $27.64. Regions Financial Corporation has a one year low of $21.40 and a one year high of $31.53.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. As a group, equities analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio is currently 44.17%.

Analyst Ratings Changes

Several analysts have recently issued reports on RF shares. JPMorgan Chase & Co. decreased their target price on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. DA Davidson upped their target price on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Truist Financial restated a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Royal Bank Of Canada upped their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, Brean Capital started coverage on shares of Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average target price of $30.47.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.

About Regions Financial

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.