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

Regions Financial Co. (NYSE:RF) Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at $968,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Regions Financial Stock Performance

Shares of RF opened at $19.61 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 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. The company has a 50-day simple moving average of $19.41 and a 200-day simple moving average of $18.07. The company has a market capitalization of $18.02 billion, a PE ratio of 10.66, a P/E/G ratio of 1.42 and a beta of 1.21.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business posted $0.62 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Equities research analysts predict that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s payout ratio is currently 52.17%.

Institutional Trading of Regions Financial

A number of institutional investors have recently bought and sold shares of RF. Equitable Trust Co. raised its stake in shares of Regions Financial by 6.1% during the 1st quarter. Equitable Trust Co. now owns 69,521 shares of the bank’s stock worth $1,463,000 after buying an additional 3,977 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Regions Financial by 21.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 488,682 shares of the bank’s stock valued at $10,282,000 after acquiring an additional 87,427 shares in the last quarter. MTM Investment Management LLC acquired a new position in Regions Financial during the first quarter worth about $206,000. Valeo Financial Advisors LLC lifted its holdings in shares of Regions Financial by 19.7% in the first quarter. Valeo Financial Advisors LLC now owns 22,760 shares of the bank’s stock valued at $450,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position 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 valued at $2,927,000 after purchasing an additional 3,882 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RF. 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 research note on Monday. Argus cut Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Stephens reaffirmed an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a research report on Tuesday, January 23rd. Truist Financial lowered their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently 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.