Raymond James Financial Inc. Takes $31.48 Million Position in Regions Financial Co. (NYSE:RF)

Raymond James Financial Inc. bought a new position in Regions Financial Co. (NYSE:RF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,338,430 shares of the bank’s stock, valued at approximately $31,480,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its stake in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after acquiring an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Regions Financial during the 4th quarter worth about $28,000. Truvestments Capital LLC purchased a new position in shares of Regions Financial during the 3rd quarter worth about $37,000. Legacy Investment Solutions LLC purchased a new stake in Regions Financial in the 3rd quarter valued at about $37,000. Finally, Quarry LP boosted its position in Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after buying an additional 394 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF opened at $20.82 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $18.85 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.93 and a beta of 1.19. The company’s fifty day moving average is $23.71 and its two-hundred day moving average is $24.00. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.80%. Regions Financial’s payout ratio is currently 51.55%.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 4,523 shares of company stock worth $102,269 in the last three months. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Compass Point upped their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Truist Financial upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group increased their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Finally, Citigroup decreased their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.56.

About Regions Financial

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.