Corient Private Wealth LLC grew its stake in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,539 shares of the bank’s stock after purchasing an additional 31,148 shares during the quarter. Corient Private Wealth LLC’s holdings in Regions Financial were worth $3,268,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its position in Regions Financial by 7.2% during the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after acquiring an additional 1,278 shares in the last quarter. Woodline Partners LP raised its stake in shares of Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 22,216 shares during the period. Baird Financial Group Inc. raised its stake in shares of Regions Financial by 0.7% during the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after purchasing an additional 511 shares during the period. Federated Hermes Inc. lifted its position in shares of Regions Financial by 81.2% during the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after purchasing an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Regions Financial by 5.0% during the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after purchasing an additional 6,690 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on RF. Brean Capital began coverage on shares of Regions Financial in a report on Thursday, March 12th. They set a “neutral” rating for the company. Truist Financial reiterated a “hold” rating and issued a $30.00 price objective on shares of Regions Financial in a report on Tuesday, April 21st. DA Davidson upped their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Morgan Stanley lowered their target price on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.73.
Insider Buying and Selling at Regions Financial
In other news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.
Regions Financial Stock Up 0.4%
RF stock opened at $30.09 on Friday. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $25.68 billion, a P/E ratio of 12.54, a PEG ratio of 1.14 and a beta of 1.00. The firm has a 50 day simple moving average of $28.16 and a 200-day simple moving average of $27.89.
Regions Financial (NYSE:RF – Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, equities research analysts predict that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.
Regions Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. Regions Financial’s payout ratio is presently 44.17%.
Regions Financial Company Profile
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.
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