WESPAC Advisors LLC acquired a new position in Regions Financial Corporation (NYSE:RF - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 36,881 shares of the bank's stock, valued at approximately $801,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its holdings in Regions Financial by 2,354.9% during the fourth 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 purchased a new stake in Regions Financial during the 4th quarter worth about $32,000. Rossby Financial LCC purchased a new stake in shares of Regions Financial in the 1st quarter valued at about $36,000. Grove Bank & Trust raised its holdings in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after acquiring an additional 814 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Regions Financial by 181.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after acquiring an additional 2,078 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.
Regions Financial Stock Down 0.6%
NYSE RF traded down $0.16 during midday trading on Friday, hitting $24.68. 6,445,149 shares of the company traded hands, compared to its average volume of 8,359,053. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $22.19 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. The company's 50-day simple moving average is $22.34 and its 200-day simple moving average is $22.39. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.
Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.
Regions Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.05%. Regions Financial's payout ratio is 48.08%.
Analyst Ratings Changes
A number of research analysts have commented on RF shares. Jefferies Financial Group initiated coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Barclays cut their price objective on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and an average price target of $26.15.
Read Our Latest Research Report on Regions Financial
About Regions Financial
(
Free Report)
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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