NEOS Investment Management LLC Acquires 35,539 Shares of Regions Financial Corporation $RF

NEOS Investment Management LLC grew its holdings in shares of Regions Financial Corporation (NYSE:RF) by 40.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,626 shares of the bank’s stock after buying an additional 35,539 shares during the quarter. NEOS Investment Management LLC’s holdings in Regions Financial were worth $3,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. CVA Family Office LLC increased its stake in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after acquiring an additional 656 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the 2nd quarter valued at $25,000. FNY Investment Advisers LLC bought a new stake in Regions Financial in the second quarter worth $30,000. United Community Bank bought a new stake in Regions Financial in the third quarter worth about $30,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Regions Financial in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of research reports. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Evercore cut Regions Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Finally, Piper Sandler increased their price target on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average price target of $29.84.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares in the company, valued at $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Regions Financial Stock Down 1.1%

Shares of Regions Financial stock opened at $29.72 on Friday. The firm’s 50 day moving average price is $28.52 and its 200-day moving average price is $26.65. The company has a market cap of $26.06 billion, a P/E ratio of 12.98, a PEG ratio of 1.06 and a beta of 1.04. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Regions Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.