Logan Capital Management Inc. Buys 38,016 Shares of Regions Financial Co. (NYSE:RF)

Logan Capital Management Inc. grew its stake in Regions Financial Co. (NYSE:RF) by 40.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,100 shares of the bank’s stock after purchasing an additional 38,016 shares during the period. Logan Capital Management Inc.’s holdings in Regions Financial were worth $3,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Regions Financial during the 4th quarter valued at $279,103,000. Invesco Ltd. raised its stake in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the period. Deutsche Bank AG lifted its holdings in shares of Regions Financial by 52.7% in the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock worth $129,892,000 after acquiring an additional 1,907,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Regions Financial during the 4th quarter worth about $31,480,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $22.23 on Tuesday. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.93 and a beta of 0.97. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $20.63 and its 200 day moving average is $23.25.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period last year, the business posted $0.37 EPS. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.50%. Regions Financial’s dividend payout ratio is presently 48.08%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

RF has been the topic of a number of recent analyst reports. Stephens reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price target on Regions Financial from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Barclays dropped their price objective on Regions Financial from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Monday, April 21st. Wells Fargo & Company reduced their target price on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Finally, Morgan Stanley lowered their target price on shares of Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Regions Financial has an average rating of “Moderate Buy” and an average price target of $25.53.

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.