William C. Rhodes III Acquires 50,000 Shares of Regions Financial Co. (NYSE:RF) Stock

Regions Financial Co. (NYSE:RF) Director William C. Rhodes III bought 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Regions Financial Stock Up 2.1 %

Shares of RF stock traded up $0.40 on Wednesday, hitting $19.75. 11,018,001 shares of the stock were exchanged, compared to its average volume of 8,829,525. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $18.15 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21. The business has a 50-day moving average of $19.36 and a 200 day moving average of $18.05. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08.

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

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.86%. Regions Financial’s dividend payout ratio is currently 52.17%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. boosted its position in Regions Financial by 16.5% during the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after purchasing an additional 549 shares during the last quarter. CWM LLC boosted its position in Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the last quarter. Signet Financial Management LLC boosted its position in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after purchasing an additional 584 shares during the last quarter. Pinnacle Financial Partners Inc boosted its position in Regions Financial by 0.4% during the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank’s stock valued at $2,797,000 after purchasing an additional 606 shares during the last quarter. Finally, MV Capital Management Inc. boosted its position in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RF has been the subject of a number of recent analyst reports. Truist Financial dropped their price objective on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday. Keefe, Bruyette & Woods upped their price objective on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Barclays reiterated an “underweight” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. Finally, Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $23.00 in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $20.17.

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.