Regions Financial Corporation (NYSE:RF) Director Buys $101,920.00 in Stock

Key Points

• Director Investment: Regions Financial Corporation's Director Roger W. Jenkins purchased 4,000 shares for $101,920 at an average price of $25.48 per share, increasing his total ownership by 167.86%.
• Quarterly Earnings Beat Expectations: The bank reported earnings of $0.60 per share for the last quarter, exceeding estimates of $0.56, along with a revenue increase of 10.1% year-over-year.
• Dividend Announcement: Regions Financial has increased its quarterly dividend from $0.25 to $0.265, resulting in an annualized dividend yield of 4.1%.

Regions Financial Corporation (NYSE:RF - Get Free Report) Director Roger W. Jenkins acquired 4,000 shares of Regions Financial stock in a transaction dated Wednesday, August 13th. The stock was purchased 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 owned 6,383 shares of the company's stock, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Regions Financial Trading Up 0.8%

Shares of Regions Financial stock traded up $0.20 during trading on Thursday, hitting $26.04. The stock had a trading volume of 17,436,266 shares, compared to its average volume of 10,013,761. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The firm's fifty day simple moving average is $24.14 and its 200-day simple moving average is $22.62. The stock has a market cap of $23.23 billion, a PE ratio of 12.11, a PEG ratio of 1.46 and a beta of 1.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The company's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.1%. Regions Financial's dividend payout ratio (DPR) is currently 49.30%.

Institutional Trading of Regions Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RF. Foster Victor Wealth Advisors LLC raised its stake in Regions Financial by 5.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock worth $6,606,000 after purchasing an additional 15,652 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Regions Financial by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock valued at $52,762,000 after acquiring an additional 21,169 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Regions Financial by 13.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock valued at $3,424,000 after acquiring an additional 18,684 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of Regions Financial by 62.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock valued at $440,000 after acquiring an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC purchased a new stake in Regions Financial during the 1st quarter worth approximately $272,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RF. Stephens increased their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target on Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Morgan Stanley raised their target price 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. Finally, Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.33.

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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