Gitterman Wealth Management LLC Makes New $227,000 Investment in Regions Financial Corporation $RF

Key Points

• Gitterman Wealth Management LLC acquired 10,433 shares of Regions Financial Corporation, valued at approximately $227,000, in the 1st quarter.
• Regions Financial reported a quarterly EPS of $0.60, exceeding the consensus estimate, with a net margin of 21.81% and 10.1% year-over-year revenue growth.
• The firm announced a quarterly dividend increase to $0.265 per share, representing a yield of 4.1%, to be paid on October 1st.

Gitterman Wealth Management LLC purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,433 shares of the bank's stock, valued at approximately $227,000.

Several other hedge funds have also recently bought and sold shares of RF. Invesco Ltd. raised its holdings in Regions Financial by 35.7% in the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock valued at $456,122,000 after buying an additional 5,521,772 shares during the period. Nuveen LLC purchased a new position in Regions Financial in the first quarter valued at approximately $53,018,000. Charles Schwab Investment Management Inc. raised its holdings in Regions Financial by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock valued at $675,645,000 after buying an additional 1,909,162 shares during the period. Deutsche Bank AG grew its position in Regions Financial by 52.7% in the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock valued at $129,892,000 after acquiring an additional 1,907,121 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Regions Financial by 3.7% in the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock valued at $960,717,000 after acquiring an additional 1,562,512 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RF shares. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. TD Cowen started coverage on shares of Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective for the company. Jefferies Financial Group started coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective for the company. Stephens increased their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Citigroup increased their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.33.

Regions Financial Stock Up 1.7%

Shares of RF stock traded up $0.45 during mid-day trading on Tuesday, reaching $27.10. 19,624,496 shares of the company were exchanged, compared to its average volume of 10,313,981. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week 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 capitalization of $24.18 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.54 and a beta of 1.01. The business's 50 day simple moving average is $24.80 and its 200 day simple moving average is $22.68.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $0.52 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial's dividend payout ratio is 46.51%.

Insider Buying and Selling

In related news, Director Roger W. Jenkins purchased 4,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the transaction, the director owned 6,383 shares of the company's stock, valued at $162,638.84. This represents a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Regions Financial 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.