Patriot Financial Group Insurance Agency LLC Takes $1.03 Million Position in Regions Financial Corporation $RF

Patriot Financial Group Insurance Agency LLC bought a new position in Regions Financial Corporation (NYSE:RF) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 39,398 shares of the bank’s stock, valued at approximately $1,029,000.

Other large investors have also recently modified their holdings of the company. Welch Group LLC lifted its position in Regions Financial by 1.9% in the first quarter. Welch Group LLC now owns 150,235 shares of the bank’s stock worth $3,924,000 after buying an additional 2,763 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Regions Financial during the first quarter valued at $1,155,000. Kestra Private Wealth Services LLC raised its stake in shares of Regions Financial by 1.2% in the first quarter. Kestra Private Wealth Services LLC now owns 171,587 shares of the bank’s stock valued at $4,482,000 after acquiring an additional 2,004 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Regions Financial by 10.7% in the 1st quarter. Ritholtz Wealth Management now owns 23,808 shares of the bank’s stock worth $622,000 after acquiring an additional 2,296 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Regions Financial by 490.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 59,248 shares of the bank’s stock worth $1,548,000 after acquiring an additional 49,211 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Regions Financial Trading Up 0.7%

Shares of RF opened at $30.26 on Tuesday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $31.53. The company has a 50-day moving average of $28.20 and a 200 day moving average of $27.93. The firm has a market capitalization of $25.82 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. On average, research analysts expect that Regions Financial Corporation will post 2.6 EPS for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.5%. Regions Financial’s dividend payout ratio is 44.17%.

Analysts Set New Price Targets

Several brokerages recently commented on RF. Truist Financial reiterated a “hold” rating and set a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Cantor Fitzgerald restated an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Brean Capital assumed coverage on Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. reduced their price target on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Morgan Stanley raised their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.80.

Regions Financial Company Profile

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.