Regions Financial Co. (NYSE:RF) Director William C. Rhodes III Acquires 50,000 Shares of Stock

Regions Financial Co. (NYSE:RF) Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Regions Financial Stock Up 2.1 %

Regions Financial stock opened at $19.75 on Thursday. The company’s 50-day moving average price is $19.39 and its two-hundred day moving average price is $18.06. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.40 and a beta of 1.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. On average, analysts expect that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.86%. Regions Financial’s dividend payout ratio is currently 52.17%.

Hedge Funds Weigh In On Regions Financial

Several hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Regions Financial by 2.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 139,117 shares of the bank’s stock worth $2,927,000 after buying an additional 3,882 shares during the period. Leavell Investment Management Inc. boosted its holdings in shares of Regions Financial by 0.3% in the first quarter. Leavell Investment Management Inc. now owns 235,486 shares of the bank’s stock worth $5,011,000 after buying an additional 731 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Regions Financial by 16.8% in the first quarter. V Square Quantitative Management LLC now owns 26,139 shares of the bank’s stock worth $550,000 after buying an additional 3,768 shares during the period. Simplicity Wealth LLC acquired a new position in shares of Regions Financial in the first quarter worth about $660,000. Finally, Silver Lake Advisory LLC boosted its holdings in shares of Regions Financial by 8.9% in the first quarter. Silver Lake Advisory LLC now owns 215,836 shares of the bank’s stock worth $4,541,000 after buying an additional 17,681 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RF shares. Argus cut shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Evercore ISI increased their price objective on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Morgan Stanley dropped their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial dropped their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.17.

Regions Financial Company Profile

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.