Patriot Financial Group Insurance Agency LLC Makes New Investment in Regions Financial Corporation $RF

Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Regions Financial Corporation (NYSE:RF) during the first quarter, Holdings Channel reports. The fund bought 39,398 shares of the bank’s stock, valued at approximately $1,029,000.

Other hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC increased its holdings in Regions Financial by 3.9% during the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after buying an additional 346 shares during the period. Van ECK Associates Corp lifted its holdings in Regions Financial by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after buying an additional 373 shares during the period. Lcnb Corp lifted its holdings in Regions Financial by 3.8% during the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock worth $291,000 after buying an additional 390 shares during the period. West Paces Advisors Inc. boosted its position in Regions Financial by 4.0% during the 4th quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after acquiring an additional 405 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in Regions Financial by 3.7% during the 4th quarter. Inspire Investing LLC now owns 12,455 shares of the bank’s stock valued at $338,000 after acquiring an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.

Regions Financial Price Performance

NYSE RF opened at $30.26 on Tuesday. The firm’s fifty day simple moving average is $28.20 and its two-hundred day simple moving average is $27.93. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $31.53. The firm has a market capitalization of $25.82 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.14 and a beta of 1.00.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. Analysts forecast that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RF shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price target on shares of Regions Financial in a research report on Tuesday, March 3rd. Brean Capital started coverage on Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating for the company. DA Davidson raised their price objective on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Morgan Stanley lifted their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Piper Sandler reduced their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus price target of $30.80.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.