Spartan Planning & Wealth Management Takes $47,000 Position in Regions Financial Co. (NYSE:RF)

Spartan Planning & Wealth Management acquired a new position in Regions Financial Co. (NYSE:RF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,417 shares of the bank’s stock, valued at approximately $47,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Regions Financial during the fourth quarter worth $28,000. SageView Advisory Group LLC acquired a new position in shares of Regions Financial during the fourth quarter worth $498,000. Wellington Management Group LLP lifted its holdings in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Regions Financial in the 4th quarter worth $100,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on RF shares. Morgan Stanley decreased their price target on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Piper Sandler raised their price target on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods raised their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Finally, Evercore ISI upped their target price on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and a consensus target price of $20.34.

Insider Buying and Selling at Regions Financial

In other news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the sale, the executive vice president now directly owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Regions Financial Stock Performance

NYSE RF opened at $18.90 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $21.08. The stock has a 50-day moving average of $19.32 and a 200 day moving average of $19.07. The stock has a market capitalization of $17.31 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 2.04 and a beta of 1.19.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the company earned $0.62 EPS. Regions Financial’s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.08%. The ex-dividend date is Monday, June 3rd. Regions Financial’s payout ratio is currently 52.17%.

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.