Elevated Capital Advisors LLC increased its holdings in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 1,482.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,044 shares of the bank’s stock after purchasing an additional 32,830 shares during the period. Elevated Capital Advisors LLC’s holdings in Regions Financial were worth $915,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in RF. Norges Bank acquired a new stake in shares of Regions Financial during the 4th quarter worth approximately $254,564,000. Victory Capital Management Inc. lifted its position in shares of Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after acquiring an additional 9,312,449 shares during the period. First Trust Advisors LP lifted its position in shares of Regions Financial by 118.6% during the 4th quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank’s stock valued at $206,081,000 after acquiring an additional 4,125,776 shares during the period. Qube Research & Technologies Ltd boosted its stake in Regions Financial by 286.2% during the third quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after acquiring an additional 2,980,505 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Regions Financial by 151.2% during the third quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after acquiring an additional 2,371,048 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.
Regions Financial Stock Performance
RF opened at $30.53 on Friday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $31.53. The company has a market cap of $26.05 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.15 and a beta of 1.00. The company’s fifty day moving average price is $28.55 and its two-hundred day moving average price is $28.09. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18.
Regions Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.265 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. Regions Financial’s dividend payout ratio is 44.17%.
Analysts Set New Price Targets
A number of research firms have commented on RF. Wells Fargo & Company raised their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday. Truist Financial reiterated a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a report on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Robert W. Baird restated an “underperform” rating and issued a $28.00 target price on shares of Regions Financial in a research note on Monday. Finally, DA Davidson lowered Regions Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $33.00 in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus price target of $31.16.
Get Our Latest Stock Report on Regions Financial
Insider Buying and Selling at Regions Financial
In other news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.
Regions Financial 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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