Argent Advisors Inc. Purchases New Shares in Regions Financial Corporation (NYSE:RF)

Argent Advisors Inc. purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 70,086 shares of the bank's stock, valued at approximately $1,523,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foster Victor Wealth Advisors LLC raised its position in Regions Financial by 5.4% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock valued at $6,606,000 after buying an additional 15,652 shares during the last quarter. LBP AM SA raised its position in Regions Financial by 149.4% in the 4th quarter. LBP AM SA now owns 730,614 shares of the bank's stock valued at $17,184,000 after buying an additional 437,691 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Regions Financial in the 4th quarter valued at $1,965,000. Kingswood Wealth Advisors LLC raised its position in Regions Financial by 62.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock valued at $440,000 after buying an additional 7,822 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of Regions Financial by 4.0% during the 4th quarter. LPL Financial LLC now owns 939,376 shares of the bank's stock valued at $22,094,000 after purchasing an additional 36,438 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

NYSE:RF opened at $23.40 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83. The business has a 50 day moving average of $21.56 and a 200 day moving average of $22.34. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.85 and a beta of 0.96. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 13.04% and a net margin of 21.43%. During the same period in the previous year, the firm earned $0.37 EPS. On average, sell-side analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a $0.25 dividend. 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 4.27%. Regions Financial's dividend payout ratio (DPR) is currently 48.08%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RF. Wall Street Zen lowered Regions Financial from a "hold" rating to a "sell" rating in a research report on Friday. Cowen initiated coverage on Regions Financial in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Truist Financial reissued a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Morgan Stanley decreased their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Finally, TD Cowen initiated coverage on Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $25.80.

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.

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