Meadow Creek Wealth Advisors LLC Buys 21,293 Shares of Regions Financial Corporation $RF

Key Points

• Meadow Creek Wealth Advisors LLC increased its stake in Regions Financial Corporation by 227.2%, owning a total of 30,665 shares valued at approximately $721,000.
• Regions Financial announced a quarterly dividend of $0.265 per share, set to be paid on January 2nd, with a dividend yield of 4.4%.
• Analysts have a consensus rating of "Moderate Buy" for Regions Financial, with an average target price of $27.94.

Meadow Creek Wealth Advisors LLC increased its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 227.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,665 shares of the bank's stock after purchasing an additional 21,293 shares during the quarter. Meadow Creek Wealth Advisors LLC's holdings in Regions Financial were worth $721,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Regions Financial by 3.7% in the 1st quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock valued at $960,717,000 after buying an additional 1,562,512 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Regions Financial by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock worth $675,645,000 after purchasing an additional 1,909,162 shares during the last quarter. Invesco Ltd. lifted its position in Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock valued at $456,122,000 after purchasing an additional 5,521,772 shares during the period. Amundi lifted its position in Regions Financial by 20.4% during the 1st quarter. Amundi now owns 10,010,267 shares of the bank's stock valued at $198,721,000 after purchasing an additional 1,696,347 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Regions Financial by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank's stock valued at $216,866,000 after purchasing an additional 325,382 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 1.2%

Shares of RF stock opened at $24.35 on Wednesday. The firm's fifty day moving average price is $26.20 and its two-hundred day moving average price is $23.75. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The firm has a market capitalization of $21.73 billion, a P/E ratio of 10.73, a PEG ratio of 1.14 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The company had revenue of $1.81 billion during the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, equities analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 4.4%. Regions Financial's payout ratio is 46.70%.

Insider Buying and Selling

In related news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president owned 90,915 shares in the company, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger W. Jenkins bought 4,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the transaction, the director directly owned 6,383 shares of the company's stock, valued at $162,638.84. The trade was a 167.86% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on RF shares. Barclays reaffirmed an "underweight" rating and set a $27.00 target price (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Regions Financial in a research report on Wednesday, October 8th. Truist Financial lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Cantor Fitzgerald began coverage on shares of Regions Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $30.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.94.

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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