Advisor Resource Council purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 111,380 shares of the bank's stock, valued at approximately $2,420,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management increased its position in shares of Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Regions Financial during the 4th quarter worth approximately $32,000. Grove Bank & Trust increased its position in Regions Financial by 76.6% during the first 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 increased its position in Regions Financial by 36.4% during the fourth quarter. Allworth Financial LP now owns 2,560 shares of the bank's stock worth $62,000 after buying an additional 683 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in Regions Financial by 181.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after buying an additional 2,078 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Wells Fargo & Company decreased their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Finally, Cowen started coverage on Regions Financial in a report on Wednesday, May 14th. They set a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.80.
View Our Latest Stock Report on RF
Regions Financial Price Performance
Shares of NYSE RF traded up $0.22 during trading on Friday, hitting $22.18. 21,251,660 shares of the company were exchanged, compared to its average volume of 8,323,016. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.77 and a beta of 0.96. The firm's fifty day moving average price is $21.18 and its 200 day moving average price is $22.46.
Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the business earned $0.37 earnings per share. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.
Regions Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is 48.08%.
About Regions Financial
(
Free Report)
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.
Further Reading
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