Regions Financial Co. (NYSE:RF) Shares Purchased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC raised its stake in Regions Financial Co. (NYSE:RF) by 27.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 15,075 shares of the bank’s stock after purchasing an additional 3,275 shares during the period. HBK Sorce Advisory LLC’s holdings in Regions Financial were worth $317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC raised its stake in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares during the period. ICA Group Wealth Management LLC acquired a new position in Regions Financial during the 4th quarter worth $28,000. Sound Income Strategies LLC grew its position in Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after buying an additional 750 shares in the last quarter. Glassman Wealth Services increased its stake in Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after buying an additional 967 shares during the period. Finally, MV Capital Management Inc. boosted its holdings in shares of Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

NYSE:RF remained flat at $22.09 during mid-day trading on Friday. 18,416,451 shares of the company’s stock were exchanged, compared to its average volume of 8,191,241. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $22.64. The firm’s 50 day moving average is $19.55 and its two-hundred day moving average is $19.29. 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 market capitalization of $20.23 billion, a PE ratio of 12.01, a PEG ratio of 2.53 and a beta of 1.18.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities research analysts anticipate that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of analysts have commented on RF shares. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. 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, July 8th. Keefe, Bruyette & Woods cut their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Evercore ISI reduced their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Finally, Piper Sandler upped their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.39.

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.