Glassman Wealth Services Has $30,000 Stake in Regions Financial Co. (NYSE:RF)

Glassman Wealth Services lifted its position in shares of Regions Financial Co. (NYSE:RF) by 163.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,559 shares of the bank’s stock after buying an additional 967 shares during the period. Glassman Wealth Services’ holdings in Regions Financial were worth $30,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RF. Nomura Asset Management Co. Ltd. boosted its position in Regions Financial by 5.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 254,916 shares of the bank’s stock worth $4,940,000 after acquiring an additional 13,136 shares during the last quarter. TCW Group Inc. acquired a new position in Regions Financial during the fourth quarter worth $287,000. SageView Advisory Group LLC bought a new position in Regions Financial in the fourth quarter valued at $498,000. Cambridge Investment Research Advisors Inc. increased its stake in Regions Financial by 8.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 135,235 shares of the bank’s stock valued at $2,621,000 after buying an additional 10,269 shares during the last quarter. Finally, WBI Investments LLC bought a new stake in Regions Financial during the 4th quarter worth about $469,000. 79.39% of the stock is currently owned by institutional investors.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Regions Financial Stock Performance

NYSE RF traded up $0.07 on Thursday, reaching $19.64. The stock had a trading volume of 4,867,298 shares, compared to its average volume of 8,639,186. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $18.05 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The firm has a fifty day moving average of $19.50 and a two-hundred day moving average of $18.17.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the business posted $0.62 earnings per share. Regions Financial’s revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Co. will post 1.95 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.89%. Regions Financial’s payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stephens restated an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a report on Tuesday, January 23rd. Royal Bank of Canada boosted their price target on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Morgan Stanley cut their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Truist Financial dropped their price target on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus price target of $20.34.

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.