Sanctuary Advisors LLC lifted its stake in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 14.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 775,230 shares of the bank’s stock after purchasing an additional 99,934 shares during the quarter. Sanctuary Advisors LLC owned about 0.09% of Regions Financial worth $20,249,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in the stock. Swiss Life Asset Management Ltd grew its position in Regions Financial by 244.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after purchasing an additional 1,600,926 shares during the last quarter. Waterloo Capital L.P. raised its holdings in shares of Regions Financial by 123.7% during the fourth quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock valued at $3,683,000 after buying an additional 75,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Regions Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock valued at $51,247,000 after buying an additional 69,191 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of Regions Financial by 148.4% during the fourth quarter. iA Global Asset Management Inc. now owns 129,823 shares of the bank’s stock worth $3,518,000 after buying an additional 77,567 shares during the period. Finally, Evergreen Capital Management LLC acquired a new position in shares of Regions Financial during the fourth quarter worth approximately $1,939,000. Institutional investors own 79.39% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on RF shares. Morgan Stanley increased their price objective on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. UBS Group lifted their target price on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. DA Davidson lowered Regions Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $35.00 to $33.00 in a research report on Monday, July 6th. Cantor Fitzgerald increased their price target on Regions Financial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Truist Financial reissued a “hold” rating and set a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.28.
Insider Activity at Regions Financial
In other news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.
Regions Financial Trading Up 1.9%
Regions Financial stock opened at $31.50 on Thursday. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $31.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $26.88 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The firm has a 50 day simple moving average of $28.78 and a 200-day simple moving average of $28.18.
Regions Financial (NYSE:RF – Get Free Report) last announced its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 earnings per share. As a group, equities research analysts expect that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.
Regions Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. Regions Financial’s payout ratio is 44.17%.
About Regions Financial
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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