Alpha DNA Investment Management LLC purchased a new stake in Regions Financial Co. (NYSE:RF - Get Rating) during the third quarter, according to its most recent filing with the SEC. The firm purchased 33,388 shares of the bank's stock, valued at approximately $670,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. CI Investments Inc. boosted its position in shares of Regions Financial by 991.2% in the 3rd quarter. CI Investments Inc. now owns 1,244 shares of the bank's stock worth $25,000 after purchasing an additional 1,130 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Regions Financial in the 2nd quarter worth $43,000. Parkside Financial Bank & Trust boosted its position in shares of Regions Financial by 41.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank's stock worth $56,000 after purchasing an additional 737 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Regions Financial in the 3rd quarter worth $62,000. Finally, Alta Advisers Ltd acquired a new stake in shares of Regions Financial in the 3rd quarter worth $68,000. 72.87% of the stock is currently owned by hedge funds and other institutional investors.
Regions Financial Price Performance
Shares of Regions Financial stock traded down $1.36 on Monday, hitting $18.92. The company's stock had a trading volume of 18,928,970 shares, compared to its average volume of 8,228,776. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.82. Regions Financial Co. has a 1 year low of $13.94 and a 1 year high of $24.33. The firm has a fifty day moving average price of $22.87 and a 200-day moving average price of $22.08. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 6.94, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.
Regions Financial (NYSE:RF - Get Rating) last announced its quarterly earnings results on Friday, January 20th. The bank reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Regions Financial had a return on equity of 16.14% and a net margin of 29.81%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.94 billion. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.57 earnings per share for the current fiscal year.
Regions Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.80 annualized dividend and a yield of 4.23%. Regions Financial's dividend payout ratio (DPR) is currently 35.24%.
Analyst Ratings Changes
RF has been the subject of a number of recent analyst reports. Jefferies Financial Group cut Regions Financial from a "buy" rating to a "hold" rating in a research report on Monday, January 9th. Wolfe Research raised Regions Financial from a "market perform" rating to an "outperform" rating and set a $24.00 price target for the company in a research report on Thursday, December 1st. Citigroup lifted their price target on Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, February 17th. Morgan Stanley lifted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Monday, January 23rd. Finally, Truist Financial lifted their price target on Regions Financial from $24.00 to $27.00 in a research report on Monday, January 23rd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.00.
Insiders Place Their Bets
In other Regions Financial news, EVP C. Matthew Lusco sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total transaction of $2,283,000.00. Following the completion of the sale, the executive vice president now directly owns 77,843 shares in the company, valued at approximately $1,777,155.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP C. Matthew Lusco sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total value of $2,283,000.00. Following the completion of the sale, the executive vice president now directly owns 77,843 shares in the company, valued at $1,777,155.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William D. Ritter sold 13,000 shares of the company's stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $23.42, for a total value of $304,460.00. Following the completion of the sale, the executive vice president now owns 24,344 shares of the company's stock, valued at $570,136.48. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Regions Financial Company Profile
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.
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