First Trust Advisors LP Has $348.94 Million Stock Holdings in Regions Financial Corporation $RF

First Trust Advisors LP boosted its position in Regions Financial Corporation (NYSE:RF) by 75.7% during the first quarter, HoldingsChannel.com reports. The fund owned 13,358,969 shares of the bank’s stock after buying an additional 5,754,487 shares during the quarter. First Trust Advisors LP’s holdings in Regions Financial were worth $348,936,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in shares of Regions Financial in the 2nd quarter valued at $25,000. SouthState Bank Corp raised its holdings in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after buying an additional 538 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after buying an additional 557 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in shares of Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after buying an additional 854 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in Regions Financial in the fourth quarter valued at about $33,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Regions Financial stock opened at $30.82 on Wednesday. The stock’s 50 day moving average is $29.11 and its 200 day moving average is $28.30. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The firm has a market cap of $26.31 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts expect that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is currently 43.27%.

Analysts Set New Price Targets

RF has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday. DA Davidson upped their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday. Stephens began coverage on shares of Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price on the stock. Piper Sandler reduced their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Finally, Morgan Stanley raised their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $32.21.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Regions Financial Profile

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.