Insider Buying: Regions Financial Co. (NYSE:RF) Director Buys 2,300 Shares of Stock

Regions Financial Co. (NYSE:RF) Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Regions Financial Price Performance

RF traded down $0.24 during midday trading on Thursday, reaching $20.82. 6,907,419 shares of the company’s stock were exchanged, compared to its average volume of 7,474,162. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The stock has a market capitalization of $18.85 billion, a PE ratio of 10.73, a P/E/G ratio of 1.93 and a beta of 1.19. 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 business’s 50-day moving average price is $23.76 and its 200 day moving average price is $24.03.

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

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.80%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of research reports. Citigroup lowered their price target on Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial boosted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. The Goldman Sachs Group upped their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler lifted their price objective 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. Finally, Compass Point boosted their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RF. Citigroup Inc. increased its holdings in shares of Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after buying an additional 253,708 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Regions Financial in the 4th quarter worth about $1,965,000. Aprio Wealth Management LLC purchased a new stake in shares of Regions Financial during the 4th quarter worth about $1,247,000. Nordea Investment Management AB increased its position in Regions Financial by 60.4% during the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after purchasing an additional 99,115 shares in the last quarter. Finally, Commerce Bank raised its holdings in Regions Financial by 392.5% in the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after buying an additional 197,900 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Company 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.