Insider Buying: Regions Financial Co. (NYSE:RF) Director Buys 549 Shares of Stock

Regions Financial Co. (NYSE:RF) Director Jose S. Suquet acquired 549 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average cost of $24.70 per share, with a total value of $13,560.30. Following the transaction, the director now directly owns 33,791 shares in the company, valued at $834,637.70. This trade represents a 1.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Regions Financial Stock Up 1.3 %

RF stock opened at $23.71 on Friday. The company has a market cap of $21.47 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.93 and a beta of 1.20. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company’s 50-day moving average price is $24.06 and its 200 day moving average price is $24.00. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last announced 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Monday, March 3rd. Regions Financial’s payout ratio is currently 51.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RF shares. Truist Financial increased their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Wells Fargo & Company raised their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Citigroup raised their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Piper Sandler raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RF. AMF Tjanstepension AB acquired a new position in Regions Financial during the third quarter worth about $6,281,000. Private Advisor Group LLC raised its position in shares of Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after buying an additional 429 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Regions Financial by 2,128.2% in the third quarter. International Assets Investment Management LLC now owns 98,797 shares of the bank’s stock valued at $2,305,000 after buying an additional 94,363 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Regions Financial by 5.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 151,663 shares of the bank’s stock valued at $3,538,000 after buying an additional 7,811 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Regions Financial by 1.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 277,006 shares of the bank’s stock valued at $6,367,000 after buying an additional 4,963 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.