Elevated Capital Advisors LLC Has $915,000 Position in Regions Financial Corporation $RF

Key Points

• Elevated Capital Advisors LLC sharply increased its stake in Regions Financial, boosting holdings by 1,482.8% in the first quarter to 35,044 shares valued at about $915,000.
• Regions Financial reported Q1 earnings of $0.62 per share, topping analyst estimates by a penny, while revenue rose 5% year over year to $1.87 billion. Analysts currently expect the bank to earn about 2.6 EPS for the full year.
• The bank pays a 3.5% dividend yield after its recent quarterly payout, and Wall Street’s view is mixed: the stock has a consensus Hold rating with an average target price of $31.16.

Elevated Capital Advisors LLC lifted its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 1,482.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,044 shares of the bank's stock after purchasing an additional 32,830 shares during the quarter. Elevated Capital Advisors LLC's holdings in Regions Financial were worth $915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Corp lifted its stake in Regions Financial by 1,963.9% in the 1st quarter. First Horizon Corp now owns 27,017 shares of the bank's stock valued at $706,000 after purchasing an additional 25,708 shares during the last quarter. Kestra Advisory Services LLC boosted its position in Regions Financial by 15.3% in the first quarter. Kestra Advisory Services LLC now owns 79,403 shares of the bank's stock valued at $2,074,000 after buying an additional 10,516 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in Regions Financial by 3.2% in the first quarter. Resonant Capital Advisors LLC now owns 25,952 shares of the bank's stock valued at $684,000 after buying an additional 801 shares in the last quarter. Swedbank AB grew its stake in shares of Regions Financial by 0.8% during the first quarter. Swedbank AB now owns 771,580 shares of the bank's stock worth $20,154,000 after buying an additional 6,151 shares during the last quarter. Finally, Kathmere Capital Management LLC bought a new stake in shares of Regions Financial during the first quarter worth $216,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Regions Financial stock opened at $30.53 on Friday. The stock's 50 day moving average is $28.55 and its 200 day moving average is $28.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $26.05 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.15 and a beta of 1.00. Regions Financial Corporation has a one year low of $22.70 and a one year high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts expect that Regions Financial Corporation will post 2.6 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 1st. Regions Financial's dividend payout ratio is currently 44.17%.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Regions Financial from $29.00 to $31.50 and gave the company a "neutral" rating in a research note on Monday. Robert W. Baird restated an "underperform" rating and set a $28.00 price objective on shares of Regions Financial in a research report on Monday. Piper Sandler lowered their target price on Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Royal Bank Of Canada upped their target price on Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Finally, Brean Capital initiated coverage on Regions Financial in a research report on Thursday, March 12th. They issued a "neutral" rating for the company. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.16.

About Regions Financial

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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