Freedom Investment Management Inc. Takes Position in Regions Financial Corporation $RF

Freedom Investment Management Inc. acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,735 shares of the bank’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently made changes to their positions in RF. Cambridge Investment Research Advisors Inc. grew its position in shares of Regions Financial by 12.0% during the first 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. Robeco Institutional Asset Management B.V. grew its position in shares of Regions Financial by 40.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 115,210 shares of the bank’s stock valued at $2,504,000 after purchasing an additional 33,397 shares in the last quarter. Diversified Trust Co grew its position in shares of Regions Financial by 3.2% during the first quarter. Diversified Trust Co now owns 39,230 shares of the bank’s stock valued at $852,000 after purchasing an additional 1,223 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Regions Financial by 11.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 851,206 shares of the bank’s stock valued at $18,233,000 after purchasing an additional 89,106 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Regions Financial by 0.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock valued at $52,762,000 after purchasing an additional 21,169 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Regions Financial stock opened at $24.23 on Tuesday. The company has a 50 day moving average price of $26.07 and a 200-day moving average price of $23.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. 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 market capitalization of $21.62 billion, a PE ratio of 10.67, a P/E/G ratio of 1.26 and a beta of 1.02.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The firm had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. As a group, equities 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 will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is presently 46.70%.

Insider Activity at Regions Financial

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Morgan Stanley set a $32.00 price target on shares of Regions Financial in a report on Monday, September 29th. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. DA Davidson boosted their target price on Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Truist Financial dropped their target price on Regions Financial from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Monday, October 20th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.19.

About Regions Financial

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.