MQS Management LLC Acquires Shares of 10,929 Regions Financial Co. (NYSE:RF)

MQS Management LLC bought a new position in Regions Financial Co. (NYSE:RF) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,929 shares of the bank’s stock, valued at approximately $230,000.

Other large investors have also modified their holdings of the company. Laurel Wealth Advisors LLC increased 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 valued at $27,000 after purchasing an additional 649 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Regions Financial during the fourth quarter worth about $28,000. Glassman Wealth Services lifted its holdings in Regions Financial by 163.3% in the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after acquiring an additional 967 shares during the last quarter. MV Capital Management Inc. lifted its holdings in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Regions Financial by 113.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,322 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Insiders Place Their Bets

In other news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Regions Financial Stock Up 2.0 %

RF stock traded up $0.44 during mid-day trading on Thursday, hitting $22.55. The stock had a trading volume of 7,900,701 shares, compared to its average volume of 8,243,253. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.40 and a beta of 1.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $22.85. The company has a fifty day moving average of $19.78 and a 200 day moving average of $19.40.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 18.91% and a return on equity of 12.64%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. On average, equities analysts expect that Regions Financial Co. will post 1.99 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. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.43%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is presently 52.17%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial raised their target price on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Keefe, Bruyette & Woods reduced their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.32.

Regions Financial 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.