Modern Wealth Management LLC Purchases Shares of 8,363 Regions Financial Co. (NYSE:RF)

Modern Wealth Management LLC acquired a new position in shares of Regions Financial Co. (NYSE:RF) during the 4th quarter, Holdings Channel.com reports. The fund acquired 8,363 shares of the bank’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd boosted its stake in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial during the 4th quarter valued at about $28,000. Picton Mahoney Asset Management increased its stake in Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC acquired a new position in Regions Financial in the fourth quarter worth about $32,000. Finally, Legacy Investment Solutions LLC bought a new position in Regions Financial during the third quarter worth about $37,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Price Performance

Regions Financial stock opened at $21.42 on Friday. The business’s 50-day simple moving average is $23.25 and its 200 day simple moving average is $23.92. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Regions Financial’s revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 51.55%.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased 3,993 shares of company stock worth $89,682 in the last three months. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

RF has been the topic of several analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Piper Sandler upped their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point lifted their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Truist Financial lowered their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company cut their price target on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $27.17.

Regions Financial 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.