Family Firm Inc. Takes $287,000 Position in Regions Financial Corporation (NYSE:RF)

Family Firm Inc. bought 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 and Exchange Commission (SEC). The firm bought 13,223 shares of the bank's stock, valued at approximately $287,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its position in Regions Financial by 2,354.9% in 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 during the period. Millstone Evans Group LLC acquired a new stake in Regions Financial in the fourth quarter worth about $32,000. Rossby Financial LCC acquired a new stake in Regions Financial in the first quarter worth about $36,000. Grove Bank & Trust increased its position in Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in Regions Financial by 181.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after purchasing an additional 2,078 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RF. Jefferies Financial Group began coverage on Regions Financial in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective for the company. Citigroup boosted their target price on Regions Financial from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. TD Cowen assumed coverage on Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.15.

Regions Financial Trading Down 0.6%

NYSE RF opened at $24.68 on Friday. The stock has a market capitalization of $22.19 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.97 and a beta of 0.98. The stock's 50 day moving average price is $22.41 and its two-hundred day moving average price is $22.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the business posted $0.37 EPS. As a group, analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, June 2nd. Regions Financial's dividend payout ratio is currently 48.08%.

Regions Financial Company 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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