Regions Financial Co. (NYSE:RF) Director Purchases $968,500.00 in Stock

Regions Financial Co. (NYSE:RF) Director William C. Rhodes III acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $19.62 on Friday. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day moving average price of $19.43 and a 200-day moving average price of $18.09. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08.

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

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Hedge Funds Weigh In On Regions Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Investment Counsel LLC bought a new stake in shares of Regions Financial during the 1st quarter worth approximately $215,000. UMB Bank n.a. lifted its stake in shares of Regions Financial by 5,396.1% during the 1st quarter. UMB Bank n.a. now owns 601,657 shares of the bank’s stock worth $12,659,000 after acquiring an additional 590,710 shares during the last quarter. Equitable Trust Co. lifted 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 acquiring an additional 3,977 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Regions Financial by 21.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 488,682 shares of the bank’s stock worth $10,282,000 after acquiring an additional 87,427 shares during the last quarter. Finally, MTM Investment Management LLC bought a new stake in shares of Regions Financial during the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RF. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Barclays reaffirmed an “underweight” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Truist Financial decreased their price objective on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Finally, Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company 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 issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and an average target price of $20.34.

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.