Greystone Financial Group LLC Purchases Shares of 342,387 Regions Financial Co. (NYSE:RF)

Greystone Financial Group LLC acquired a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 342,387 shares of the bank's stock, valued at approximately $7,440,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RF. Sierra Ocean LLC bought a new stake in Regions Financial in the fourth quarter valued at $28,000. Picton Mahoney Asset Management lifted its holdings in Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after buying an additional 1,201 shares in the last quarter. Millstone Evans Group LLC bought a new position in Regions Financial in the 4th quarter valued at $32,000. Creative Capital Management Investments LLC acquired a new stake in shares of Regions Financial in the 4th quarter valued at $44,000. Finally, Allworth Financial LP raised its position in shares of 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 acquiring an additional 683 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Insider Buying and Selling

In other news, Director Joia M. Johnson purchased 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price objective on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Citigroup lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Wall Street Zen downgraded shares of Regions Financial from a "hold" rating to a "sell" rating in a report on Saturday. Finally, TD Cowen began coverage on shares of Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.80.

Regions Financial Stock Up 3.6%

Shares of RF opened at $22.08 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The firm's 50 day moving average is $20.66 and its 200-day moving average is $22.78. The stock has a market capitalization of $19.85 billion, a PE ratio of 11.38, a P/E/G ratio of 1.93 and a beta of 0.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same quarter last year, the company earned $0.37 EPS. Equities research analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's payout ratio is currently 48.08%.

About Regions Financial

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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