First Financial Bankshares Inc Takes Position in Regions Financial Corporation $RF

Key Points

• First Financial Bankshares Inc opened a new position in Regions Financial, buying 843,022 shares worth about $22.8 million in the fourth quarter. The filing also noted that institutional investors own about 79.39% of the stock.
• Regions Financial’s latest quarterly earnings beat expectations, with EPS of $0.62 versus estimates of $0.61, and revenue rose 5% year over year to $1.87 billion. Analysts still expect the bank to earn about $2.61 EPS for the full year.
• The company declared a quarterly dividend of $0.265 per share, equal to an annualized yield of about 3.7%. Meanwhile, analysts’ views remain mixed, with a consensus rating of Hold and a consensus price target of $30.47.

First Financial Bankshares Inc bought a new stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 843,022 shares of the bank's stock, valued at approximately $22,846,000. First Financial Bankshares Inc owned about 0.10% of Regions Financial at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of Regions Financial during the second quarter valued at approximately $25,000. SouthState Bank Corp grew its holdings in shares of Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock valued at $30,000 after purchasing an additional 538 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock valued at $32,000 after purchasing an additional 557 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after purchasing an additional 854 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Regions Financial during the fourth quarter valued at approximately $33,000. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on RF. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Brean Capital started coverage on Regions Financial in a report on Thursday, March 12th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. decreased their price objective on Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Piper Sandler decreased their price objective on Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Finally, Morgan Stanley decreased their price objective on Regions Financial from $37.00 to $34.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Regions Financial has a consensus rating of "Hold" and a consensus price target of $30.47.

Regions Financial Stock Performance

Shares of RF stock opened at $28.91 on Friday. Regions Financial Corporation has a 12-month low of $21.40 and a 12-month high of $31.53. The firm has a market capitalization of $24.67 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.00. The business has a 50 day simple moving average of $27.73 and a 200 day simple moving average of $27.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company posted $0.54 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio is 44.17%.

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

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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