Stoneridge Investment Partners LLC Acquires Shares of 62,361 Regions Financial Corporation $RF

Key Points

• Stoneridge Investment Partners LLC acquired 62,361 shares of Regions Financial Corporation, valued at approximately $1,355,000, according to its recent SEC filing.
• Regions Financial announced an increase in its quarterly dividend from $0.25 to $0.265 per share, representing an annual yield of 4.1%.
• Regions Financial reported an EPS of $0.60 for the last quarter, exceeding analysts' estimates of $0.56, with a quarterly revenue of $1.91 billion.

Stoneridge Investment Partners LLC acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,361 shares of the bank's stock, valued at approximately $1,355,000.

Several other large investors also recently bought and sold shares of the stock. IFG Advisory LLC grew its stake in Regions Financial by 0.9% in the 1st quarter. IFG Advisory LLC now owns 52,531 shares of the bank's stock worth $1,142,000 after acquiring an additional 470 shares during the period. Horizon Investments LLC grew its stake in Regions Financial by 3.9% in the 1st quarter. Horizon Investments LLC now owns 13,369 shares of the bank's stock worth $291,000 after acquiring an additional 508 shares during the period. First Horizon Advisors Inc. grew its stake in Regions Financial by 8.7% in the 1st quarter. First Horizon Advisors Inc. now owns 6,641 shares of the bank's stock worth $144,000 after acquiring an additional 532 shares during the period. Lido Advisors LLC grew its stake in Regions Financial by 2.6% in the 4th quarter. Lido Advisors LLC now owns 22,291 shares of the bank's stock worth $530,000 after acquiring an additional 558 shares during the period. Finally, Bruce G. Allen Investments LLC grew its stake in Regions Financial by 18.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 3,641 shares of the bank's stock worth $79,000 after acquiring an additional 571 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of RF stock opened at $25.6950 on Wednesday. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $22.93 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.48 and a beta of 1.01. The company's fifty day moving average price is $24.44 and its two-hundred day moving average price is $22.64.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. On average, research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This is a boost from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is currently 46.51%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Morgan Stanley boosted their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Cowen assumed coverage on shares of Regions Financial in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Truist Financial reissued a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Finally, Stephens boosted their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Eleven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of "Moderate Buy" and an average price target of $27.33.

Insider Activity at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins bought 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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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