Cincinnati Specialty Underwriters Insurance CO Purchases New Stake in Regions Financial Co. (NYSE:RF)

Cincinnati Specialty Underwriters Insurance CO purchased a new stake in shares of Regions Financial Co. (NYSE:RF) during the 1st quarter, Holdings Channel reports. The fund purchased 88,733 shares of the bank’s stock, valued at approximately $1,867,000.

Several other large investors have also recently bought and sold shares of the business. Whittier Trust Co. grew its stake in Regions Financial by 16.5% in the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after purchasing an additional 549 shares in the last quarter. HB Wealth Management LLC grew its stake in Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after purchasing an additional 551 shares in the last quarter. CWM LLC grew its stake in Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC grew its stake in Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after purchasing an additional 584 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Performance

RF traded up $0.32 during midday trading on Tuesday, reaching $20.11. The company’s stock had a trading volume of 7,058,511 shares, compared to its average volume of 8,030,698. The stock has a market cap of $18.42 billion, a P/E ratio of 10.91, a PEG ratio of 2.13 and a beta of 1.18. The company has a fifty day simple moving average of $19.33 and a 200 day simple moving average of $19.20. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $21.08.

Regions Financial (NYSE:RF) last released 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 business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the business earned $0.62 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts expect that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.77%. Regions Financial’s dividend payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent research reports. Truist Financial boosted their target price on Regions Financial from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods lowered their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday. Morgan Stanley lowered their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Piper Sandler upped their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Evercore ISI decreased their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.39.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

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.