Gateway Wealth Partners LLC Increases Stock Position in Regions Financial Corporation $RF

Gateway Wealth Partners LLC raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 106.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,414 shares of the bank’s stock after purchasing an additional 31,188 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Regions Financial were worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the 2nd quarter valued at $25,000. SouthState Bank Corp lifted its holdings in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after acquiring an additional 538 shares during the last quarter. Spire Wealth Management grew its position in Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after acquiring an additional 557 shares in the last quarter. Princeton Global Asset Management LLC grew its position in Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after acquiring an additional 854 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in Regions Financial in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RF shares. Robert W. Baird restated an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Citigroup upped their price objective on Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Stephens started coverage on Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Finally, Truist Financial boosted their target price on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.21.

Insider Buying and Selling at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Regions Financial Price Performance

RF stock opened at $31.29 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The firm’s fifty day moving average is $29.52 and its 200 day moving average is $28.40. The firm has a market cap of $26.70 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.18 and a beta of 1.00.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts predict that Regions Financial Corporation will post 2.62 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is presently 43.27%.

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.