Tectonic Advisors LLC Acquires 504 Shares of Regions Financial Corporation $RF

Tectonic Advisors LLC boosted its holdings in Regions Financial Corporation (NYSE:RF) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,871 shares of the bank’s stock after acquiring an additional 504 shares during the quarter. Tectonic Advisors LLC’s holdings in Regions Financial were worth $514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC boosted its position in Regions Financial by 5.4% in the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock valued at $6,606,000 after buying an additional 15,652 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Regions Financial by 0.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock valued at $52,762,000 after buying an additional 21,169 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Regions Financial by 13.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock valued at $3,424,000 after buying an additional 18,684 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in Regions Financial by 62.4% in the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock valued at $440,000 after buying an additional 7,822 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in Regions Financial in the first quarter valued at about $272,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president directly owned 90,915 shares in the company, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roger W. Jenkins bought 4,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director directly owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Trading Down 4.5%

Shares of NYSE RF opened at $24.16 on Friday. The company’s 50 day simple moving average is $26.30 and its 200 day simple moving average is $23.58. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The firm has a market capitalization of $21.56 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.81 billion for the quarter. On average, analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.265 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, September 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 49.30%.

Analyst Ratings Changes

A number of equities analysts have commented on RF shares. Evercore ISI boosted their price target on shares of Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Cantor Fitzgerald started coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price on the stock. Stephens upped their target price on shares of Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. DA Davidson upped their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Barclays reiterated an “underweight” rating and set a $27.00 target price (up from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and an average price target of $27.89.

About Regions Financial

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.