Regions Financial Co. (NYSE:RF) Director Acquires $12,374.25 in Stock

Regions Financial Co. (NYSE:RF) Director Jose S. Suquet acquired 525 shares of the stock in a transaction dated Monday, January 13th. The stock was bought at an average cost of $23.57 per share, with a total value of $12,374.25. Following the completion of the purchase, the director now directly owns 32,707 shares in the company, valued at approximately $770,903.99. The trade was a 1.63 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Regions Financial Trading Up 1.3 %

RF opened at $23.71 on Monday. The stock’s fifty day moving average is $24.06 and its two-hundred day moving average is $24.04. The company has a market capitalization of $21.47 billion, a P/E ratio of 12.22, a PEG ratio of 1.93 and a beta of 1.20. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.39 EPS. The business’s revenue was up .2% compared to the same quarter last year. Analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.22%. Regions Financial’s dividend payout ratio is presently 51.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after buying an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC grew its stake in Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after buying an additional 403,283 shares during the last quarter. First Trust Advisors LP grew its stake in Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after buying an additional 1,224,645 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after buying an additional 1,963,954 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Truist Financial raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. Citigroup raised their price target on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley reissued an “equal weight” rating and set a $32.00 price target (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Compass Point raised their price target on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $27.67.

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.