Bridgeworth LLC purchased a new stake in shares of Regions Financial Co. (NYSE:RF) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 34,309 shares of the bank’s stock, valued at approximately $623,000.
A number of other hedge funds have also made changes to their positions in the business. AdvisorNet Financial Inc purchased a new stake in shares of Regions Financial during the first quarter valued at approximately $117,000. Welch Investments LLC purchased a new stake in shares of Regions Financial during the fourth quarter valued at approximately $120,000. Avestar Capital LLC purchased a new stake in shares of Regions Financial during the fourth quarter valued at approximately $135,000. Captrust Financial Advisors purchased a new stake in shares of Regions Financial during the fourth quarter valued at approximately $166,000. Finally, Signaturefd LLC purchased a new stake in shares of Regions Financial during the first quarter valued at approximately $167,000. 75.02% of the stock is currently owned by hedge funds and other institutional investors.
RF stock opened at $19.20 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.86 and a quick ratio of 0.85. Regions Financial Co. has a 1-year low of $13.02 and a 1-year high of $20.21. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 0.97 and a beta of 1.26.
Regions Financial (NYSE:RF) last released its earnings results on Friday, April 20th. The bank reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. Regions Financial had a net margin of 22.06% and a return on equity of 8.75%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. equities research analysts predict that Regions Financial Co. will post 1.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, June 7th. This represents a $0.36 annualized dividend and a yield of 1.88%. Regions Financial’s payout ratio is 36.00%.
In other Regions Financial news, EVP C. Matthew Lusco sold 10,000 shares of the business’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $19.23, for a total transaction of $192,300.00. Following the completion of the sale, the executive vice president now owns 121,473 shares in the company, valued at $2,335,925.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David J. Turner, Jr. sold 46,374 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $19.34, for a total transaction of $896,873.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 572,337 shares of company stock valued at $10,931,520. 0.84% of the stock is owned by insiders.
A number of research firms have recently issued reports on RF. Morgan Stanley lifted their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. B. Riley lifted their price objective on shares of Regions Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, April 24th. ValuEngine lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Keefe, Bruyette & Woods restated a “neutral” rating on shares of Regions Financial in a research note on Sunday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.56.
Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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