Geneos Wealth Management Inc. increased its holdings in Regions Financial Corporation (NYSE:RF – Free Report) by 23.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,731 shares of the bank’s stock after buying an additional 1,294 shares during the period. Geneos Wealth Management Inc.’s holdings in Regions Financial were worth $146,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. purchased a new stake in Regions Financial in the 4th quarter worth approximately $704,000. ProShare Advisors LLC lifted its stake in Regions Financial by 9.5% in the 4th quarter. ProShare Advisors LLC now owns 202,983 shares of the bank’s stock worth $4,774,000 after purchasing an additional 17,692 shares in the last quarter. Toronto Dominion Bank lifted its stake in Regions Financial by 7.7% in the 4th quarter. Toronto Dominion Bank now owns 487,152 shares of the bank’s stock worth $11,458,000 after purchasing an additional 34,898 shares in the last quarter. Tidal Investments LLC lifted its stake in Regions Financial by 13.6% in the 4th quarter. Tidal Investments LLC now owns 144,619 shares of the bank’s stock worth $3,401,000 after purchasing an additional 17,293 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Regions Financial by 169.3% in the 4th quarter. Two Sigma Investments LP now owns 392,706 shares of the bank’s stock worth $9,236,000 after purchasing an additional 246,906 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.
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Insiders Place Their Bets
In related news, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Roger W. Jenkins purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the purchase, the director owned 6,383 shares of the company’s stock, valued at $162,638.84. This represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have issued reports on RF shares. Stephens increased their target price on shares of Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods increased their target price on shares of Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Jefferies Financial Group assumed coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They set a “hold” rating and a $24.00 price objective on the stock. DA Davidson raised their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Truist Financial restated a “hold” rating on shares of Regions Financial in a research report on Friday, May 23rd. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.47.
Check Out Our Latest Stock Analysis on RF
Regions Financial Stock Performance
RF opened at $26.56 on Wednesday. The firm has a market cap of $23.70 billion, a P/E ratio of 12.35, a PEG ratio of 1.55 and a beta of 1.02. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a 50 day simple moving average of $25.99 and a two-hundred day simple moving average of $23.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.
Regions Financial (NYSE:RF – Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.
Regions Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 49.30%.
Regions Financial Profile
(Free Report)
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.
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