Ramiah Investment Group Takes Position in Regions Financial Corporation $RF

Ramiah Investment Group bought a new position in Regions Financial Corporation (NYSE:RF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,773 shares of the bank’s stock, valued at approximately $521,000. Regions Financial accounts for about 0.5% of Ramiah Investment Group’s holdings, making the stock its 27th largest holding.

Several other large investors have also recently bought and sold shares of RF. American National Bank & Trust boosted its position in Regions Financial by 2,433.3% during the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after acquiring an additional 1,022 shares during the period. CVA Family Office LLC lifted its position in shares of Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Regions Financial during the second quarter worth approximately $25,000. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,058 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Regions Financial during the second quarter valued at approximately $30,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of NYSE:RF opened at $28.86 on Friday. The stock has a market capitalization of $25.30 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.15 and a beta of 1.03. The business has a 50-day moving average of $26.24 and a two-hundred day moving average of $25.76. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $29.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, equities research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial declared that its board has approved a share repurchase program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 1st. Regions Financial’s dividend payout ratio is currently 46.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RF shares. Cowen reiterated a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price target (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Truist Financial increased their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Morgan Stanley set a $32.00 price objective on Regions Financial in a research report on Monday, September 29th. Finally, Citigroup upped their target price on Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $28.93.

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.