10,448 Shares in Regions Financial Corporation (NYSE:RF) Purchased by United Bank

United Bank acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,448 shares of the bank's stock, valued at approximately $227,000.

A number of other hedge funds have also recently made changes to their positions in RF. Millstone Evans Group LLC purchased a new position in Regions Financial during the 4th quarter valued at $32,000. Rossby Financial LCC purchased a new stake in shares of Regions Financial in the 1st quarter worth about $36,000. Grove Bank & Trust grew its position in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after buying an additional 814 shares during the period. Allworth Financial LP grew its position in shares of Regions Financial by 30.7% in the 1st quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after buying an additional 786 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in shares of Regions Financial by 181.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after buying an additional 2,078 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RF shares. DA Davidson upped their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday. JPMorgan Chase & Co. lowered their price target on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial restated a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Barclays lifted their target price on Regions Financial from $24.00 to $27.00 and gave the stock an "underweight" rating in a report on Monday. Finally, Stephens upped their target price on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.85.

Regions Financial Trading Up 1.1%

Shares of RF traded up $0.28 during trading hours on Tuesday, reaching $26.33. The stock had a trading volume of 2,448,149 shares, compared to its average volume of 8,392,992. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The firm has a 50-day moving average of $22.78 and a 200 day moving average of $22.41. The company has a market cap of $23.66 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.94 and a beta of 0.98.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $0.52 EPS. Regions Financial's revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.03%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is 46.51%.

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.

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