Lee Danner & Bass Inc. Purchases 48,662 Shares of Regions Financial Co. (NYSE:RF)

Lee Danner & Bass Inc. lifted its position in Regions Financial Co. (NYSE:RF) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 260,947 shares of the bank’s stock after buying an additional 48,662 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Regions Financial were worth $6,137,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after buying an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after buying an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Regions Financial by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after buying an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Regions Financial by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock worth $203,273,000 after purchasing an additional 112,885 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Regions Financial by 0.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after purchasing an additional 61,426 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of NYSE RF opened at $21.66 on Friday. The business has a fifty day simple moving average of $23.49 and a 200 day simple moving average of $23.95. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Regions Financial’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.62%. Regions Financial’s dividend payout ratio is currently 51.55%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson acquired 2,300 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. The trade was a 15.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 3,993 shares of company stock worth $89,682 over the last three months. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Piper Sandler upped their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup decreased their target price on Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. The Goldman Sachs Group upped their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Barclays upped their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.56.

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.