Investment Research Partners LLC Buys New Holdings in Regions Financial Corporation $RF

Investment Research Partners LLC purchased a new position in shares of Regions Financial Corporation (NYSE:RF) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 32,086 shares of the bank’s stock, valued at approximately $772,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in Regions Financial in the second quarter valued at approximately $25,000. United Community Bank acquired a new position in shares of Regions Financial during the third quarter worth approximately $30,000. Salomon & Ludwin LLC bought a new position in shares of Regions Financial in the 3rd quarter worth $32,000. Elevation Point Wealth Partners LLC bought a new position in shares of Regions Financial in the 2nd quarter worth $33,000. Finally, SJS Investment Consulting Inc. grew its position in Regions Financial by 3,003.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,738 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,682 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 1.1%

NYSE RF opened at $25.17 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $28.37 and a 200 day simple moving average of $26.84. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $31.53. The firm has a market capitalization of $21.73 billion, a P/E ratio of 10.99, a PEG ratio of 0.90 and a beta of 1.02.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. Regions Financial’s revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio is presently 46.29%.

Regions Financial declared that its board has initiated a stock repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

RF has been the subject of a number of recent research reports. Piper Sandler boosted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. UBS Group reissued a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a research report on Wednesday, February 4th. Morgan Stanley set a $31.00 target price on shares of Regions Financial in a report on Monday, January 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus price target of $29.97.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

About Regions Financial

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.