Regions Financial Corporation (NYSE:RF) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 390.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,436 shares of the bank's stock after purchasing an additional 56,065 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Regions Financial were worth $1,531,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RF. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Regions Financial by 12.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 156,593 shares of the bank's stock valued at $3,403,000 after purchasing an additional 16,801 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Regions Financial in the first quarter valued at $1,225,000. Monte Financial Group LLC lifted its holdings in Regions Financial by 1.3% during the 1st quarter. Monte Financial Group LLC now owns 239,514 shares of the bank's stock worth $5,205,000 after buying an additional 2,991 shares during the last quarter. Stonegate Investment Group LLC boosted its position in shares of Regions Financial by 142.3% during the 1st quarter. Stonegate Investment Group LLC now owns 411,298 shares of the bank's stock worth $8,938,000 after acquiring an additional 241,517 shares in the last quarter. Finally, Advisor Resource Council purchased a new position in shares of Regions Financial in the 1st quarter valued at about $2,420,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial restated a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Citigroup decreased their price objective 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. Keefe, Bruyette & Woods cut their target price on Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of Regions Financial in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of "Hold" and a consensus target price of $25.80.

Regions Financial Price Performance

Shares of RF traded up $0.65 during trading hours on Tuesday, reaching $24.17. 11,081,561 shares of the company traded hands, compared to its average volume of 8,368,284. The stock has a market capitalization of $21.72 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.87 and a beta of 0.98. The stock has a fifty day simple moving average of $21.74 and a 200 day simple moving average of $22.35. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36.

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

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.14%. Regions Financial's payout ratio is currently 48.08%.

Regions Financial 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.