Envestnet Asset Management Inc. Acquires 18,314 Shares of Regions Financial Co. (NYSE:RF)

Envestnet Asset Management Inc. lifted its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411,144 shares of the bank's stock after buying an additional 18,314 shares during the period. Envestnet Asset Management Inc.'s holdings in Regions Financial were worth $9,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Regions Financial in the fourth quarter valued at $279,103,000. Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after buying an additional 1,396,647 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Regions Financial during the 4th quarter worth $31,480,000. Allianz Asset Management GmbH grew its stake in Regions Financial by 247.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank's stock valued at $40,891,000 after acquiring an additional 1,237,538 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Regions Financial by 2,309.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 653,963 shares of the bank's stock valued at $15,381,000 after acquiring an additional 626,820 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Up 1.0 %

Shares of RF stock traded up $0.20 on Thursday, hitting $20.22. The stock had a trading volume of 1,463,419 shares, compared to its average volume of 8,090,420. The stock's 50 day moving average is $21.32 and its 200-day moving average is $23.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same quarter last year, the company posted $0.37 earnings per share. As a group, research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.95%. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RF. The Goldman Sachs Group cut their price target on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Monday. Barclays cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Monday. Wells Fargo & Company cut their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Finally, Morgan Stanley decreased their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy 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 $25.53.

Regions Financial Company 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.