Marble Wealth LLC Buys Shares of 37,802 Regions Financial Corporation $RF

Marble Wealth LLC bought a new stake in Regions Financial Corporation (NYSE:RF) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 37,802 shares of the bank’s stock, valued at approximately $1,024,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Regions Financial by 52.9% in the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after buying an additional 4,679,285 shares during the last quarter. Norges Bank bought a new stake in Regions Financial in the fourth quarter valued at $254,564,000. LSV Asset Management lifted its stake in Regions Financial by 4.0% in the fourth quarter. LSV Asset Management now owns 9,286,352 shares of the bank’s stock valued at $251,660,000 after buying an additional 357,101 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Regions Financial by 12.9% in the fourth quarter. Bank of New York Mellon Corp now owns 6,460,310 shares of the bank’s stock valued at $175,074,000 after buying an additional 736,296 shares during the last quarter. Finally, Barclays PLC lifted its stake in Regions Financial by 12.4% in the third quarter. Barclays PLC now owns 6,254,555 shares of the bank’s stock valued at $164,933,000 after buying an additional 689,313 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RF shares. Piper Sandler lowered their price target on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Truist Financial reissued a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. UBS Group reissued a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a research note on Wednesday, February 4th. Finally, Morgan Stanley lowered their target price on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and a consensus target price of $30.47.

Insider Transactions at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

Regions Financial Stock Up 2.5%

Regions Financial stock opened at $28.03 on Wednesday. The stock has a market cap of $23.92 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.07 and a beta of 1.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $27.27 and its two-hundred day moving average price is $27.42. Regions Financial Corporation has a 52 week low of $21.00 and a 52 week high of $31.53.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.Regions Financial’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, analysts expect that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is presently 44.17%.

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.