Regions Financial Co. (NYSE:RF - Get Free Report) Director Joia M. Johnson bought 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Regions Financial Trading Down 1.2 %
Shares of Regions Financial stock opened at $20.82 on Friday. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $18.85 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.93 and a beta of 1.19. The stock's 50 day simple moving average is $23.71 and its 200-day simple moving average is $24.00.
Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $0.39 EPS. Analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.
Regions Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.80%. Regions Financial's dividend payout ratio (DPR) is 51.55%.
Institutional Trading of Regions Financial
Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in Regions Financial by 16.4% in the third quarter. Janney Montgomery Scott LLC now owns 66,925 shares of the bank's stock worth $1,561,000 after acquiring an additional 9,407 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Regions Financial by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,087,697 shares of the bank's stock valued at $25,376,000 after purchasing an additional 34,125 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Regions Financial by 6.8% during the 3rd quarter. Assetmark Inc. now owns 18,637 shares of the bank's stock worth $435,000 after purchasing an additional 1,184 shares during the period. Atria Investments Inc increased its position in shares of Regions Financial by 4.1% during the 3rd quarter. Atria Investments Inc now owns 19,100 shares of the bank's stock worth $446,000 after purchasing an additional 754 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Regions Financial by 413.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,708 shares of the bank's stock valued at $87,000 after buying an additional 2,986 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on RF. Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Piper Sandler raised their target price on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Truist Financial lifted their price target on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a research note on Tuesday, January 21st. Wells Fargo & Company increased their price target on Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group boosted their price objective on Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.56.
Get Our Latest Report on RF
About Regions Financial
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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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