Millstone Evans Group LLC Acquires Shares of 1,367 Regions Financial Co. (NYSE:RF)

Millstone Evans Group LLC acquired a new position in shares of Regions Financial Co. (NYSE:RF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,367 shares of the bank’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lee Danner & Bass Inc. boosted its stake in shares of Regions Financial by 22.9% in the fourth quarter. Lee Danner & Bass Inc. now owns 260,947 shares of the bank’s stock valued at $6,137,000 after buying an additional 48,662 shares during the period. Kiker Wealth Management LLC acquired a new position in Regions Financial in the 4th quarter valued at $313,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Regions Financial during the 4th quarter valued at $1,205,000. Blueshift Asset Management LLC acquired a new stake in shares of Regions Financial during the 4th quarter worth $320,000. Finally, iA Global Asset Management Inc. increased its position in shares of Regions Financial by 72.5% in the fourth quarter. iA Global Asset Management Inc. now owns 103,178 shares of the bank’s stock worth $2,427,000 after purchasing an additional 43,375 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased 3,993 shares of company stock worth $89,682 over the last ninety days. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Barclays increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Citigroup lowered their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler raised their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Truist Financial lowered their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $27.28.

Regions Financial Trading Up 2.8 %

Shares of NYSE RF opened at $22.33 on Tuesday. The stock has a market cap of $20.21 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The firm has a 50 day moving average price of $23.44 and a two-hundred day moving average price of $23.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $0.39 EPS. Regions Financial’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio is currently 51.55%.

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.