Procyon Advisors LLC Purchases New Position in Regions Financial Corporation $RF

Procyon Advisors LLC purchased a new position in Regions Financial Corporation (NYSE:RFFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,880 shares of the bank’s stock, valued at approximately $650,000.

Other large investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial in the 2nd quarter worth approximately $25,000. SouthState Bank Corp raised its holdings in Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after buying an additional 538 shares during the period. Spire Wealth Management raised its holdings in Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after buying an additional 557 shares during the period. Princeton Global Asset Management LLC lifted its position in Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after buying an additional 854 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in Regions Financial in the fourth quarter worth $33,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Down 0.5%

Shares of RF opened at $30.92 on Wednesday. The firm has a market capitalization of $26.38 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $31.53. The company has a 50-day moving average of $28.72 and a 200 day moving average of $28.16.

Regions Financial (NYSE:RFGet Free Report) last issued its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, research analysts expect that Regions Financial Corporation will post 2.6 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on RF. JPMorgan Chase & Co. boosted their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, July 6th. Robert W. Baird reaffirmed an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Morgan Stanley upped their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Evercore reissued an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Finally, Piper Sandler decreased their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average target price of $31.16.

View Our Latest Report on Regions Financial

Insider Buying and Selling at Regions Financial

In related 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.

Regions Financial Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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